WageWorks, Inc.


Company Name:
WageWorks, Inc. 
Sector:
Software & Services 
Transaction Type:
Follow-on Offering 
Ticker Symbol:
WAGE 
Deal Amount:
$120.8M
Transaction Date:
10/4/2012 
Transaction Summary:
WageWorks, Inc. raised $120.8 million in its follow-on offering at $17.50 per share. Needham acted as a co-manager for the transaction. The Company‚Äôs underwriters fully exercised their option to purchase an additional 900,000 shares of common stock at the follow-on offering price to cover over-allotments. The principal purposes of this offering are to facilitate an orderly distribution of shares for the selling stockholders, to increase the public float and to raise additional capital. The proceeds of the primary portion of the offering will be used to provide additional working capital for WageWorks and general corporate purposes, including further expansion of sales and marketing efforts, continued investments in technology and development and for capital expenditures.  
Company Description:
WageWorks (NYSE: WAGE) is a leading provider of Consumer-Directed Benefits (CDBs) in the United States. WageWorks administers and operates a broad array of CDBs, including pretax spending accounts, such as health and dependent care Flexible Spending Accounts (FSAs), as well as Commuter Benefit Services, including transit and parking programs, Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), and other employee benefits. WageWorks is headquartered in San Mateo, California, with offices in major locations throughout the United States. 
Investment Banking