Cornerstone OnDemand Announces Pricing of Initial Public Offering
Santa Monica, Calif. – March 17, 2011 – Cornerstone OnDemand, Inc. today announced the pricing of its initial public offering of 10,500,000 shares of its common stock at a public offering price of $13.00 per share. The common stock will begin trading on March 17, 2011 on the NASDAQ Global Market under the symbol "CSOD."
Cornerstone OnDemand is offering 7,500,000 shares of common stock and certain selling stockholders are offering 3,000,000 shares of common stock. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,575,000 shares at the initial public offering price. Cornerstone OnDemand will not receive any proceeds from the sale of shares by the selling stockholders.
Goldman, Sachs & Co. and Barclays Capital Inc. are acting as the joint book-running managers for the offering. William Blair & Company, L.L.C., Piper Jaffray & Co., Pacific Crest Securities LLC and JMP Securities LLC are acting as co-managers.
The initial public offering is being made solely by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, via telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing email@example.com; or from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone: 1-888-603-5847 or by emailing firstname.lastname@example.org.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cornerstone is a premier people development company. We believe people can achieve anything when they have the right development and growth opportunities. We offer organizations the technology, content, expertise and specialized focus to help them realize the potential of their people. Featuring comprehensive recruiting, personalized learning, modern training content, development-driven performance management and holistic employee data management and insights, Cornerstone’s people development solutions are used by more than 6,000 customers of all sizes, spanning more than 75 million users across over 180 countries and nearly 50 languages. Learn more at www.cornerstoneondemand.com.