SciQuest, Inc. Announces Common Stock Offering

SciQuest, Inc. Announces Common Stock Offering

CARY, N.C., March 24, 2014 (GLOBE NEWSWIRE) -- SciQuest, Inc. (Nasdaq:SQI)
announced today that it is commencing an underwritten public offering of
3,000,000 shares of common stock pursuant to an effective shelf registration
statement. The last reported sale price of the Company's common stock on March
21, 2014 was $30.41 per share. The Company also intends to grant the
underwriters an option to purchase up to 450,000 additional shares of common
stock.

The Company expects to use the net proceeds from the offering for working
capital and other general corporate purposes. J.P. Morgan Securities LLC and
Stifel are acting as joint book-running managers for the offering. Canaccord
Genuity Inc., JMP Securities LLC, Pacific Crest Securities LLC, Raymond James
& Associates, Inc., William Blair & Company, L.L.C., Barrington Research
Associates, Inc. and Sidoti & Company, LLC will be acting as co-managers.

The proposed offering is being made pursuant to an effective shelf
registration statement, and only by means of a prospectus supplement and
accompanying prospectus, copies of which may be obtained, when available, for
free by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York, NY 11717 or telephone:
(866) 803-9204 or Stifel, Nicolaus & Company, Incorporated, Attention:
Prospectus Dept., One Montgomery Street, Suite 3700, San Francisco, California
94104, by telephone at (415) 364-2720 or by email at
syndprospectus@stifel.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.

About SciQuest

SciQuest (Nasdaq:SQI) is the largest publicly held pure-play provider of
cloud-based, business automation solutions for spend management - offering
deep domain knowledge and a leading, customer-driven portfolio.

Cautionary Note Regarding Forward-Looking Statements

This release contains certain "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, including statements regarding our expectations
regarding the completion and anticipated proceeds of the public offering.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Certain of these risks
are discussed in "Part I, Item 1A, Risk Factors" and elsewhere in SciQuest's
most recent Annual Report on Form 10-K and other reports, as filed with the
SEC. All forward-looking statements in this release are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Also, forward-looking statements represent management's beliefs and
assumptions only as of the date of this release. Except as required by law,
SciQuest assumes no obligation to update these forward-looking statements
publicly or to update the reasons actual results could differ materially from
those anticipated in these forward-looking statements, even if new information
becomes available in the future. Given these risks and uncertainties,
investors should not place undue reliance on forward-looking statements as a
prediction of actual results. There can be no assurance that SciQuest will be
able to complete the public offering on the anticipated terms, or at all.

SQI-F

CONTACT: SciQuest Media contact:
         fama PR for SciQuest
         Dan Gaffney, 617-986-5036
         sciquest@famapr.com
        
         SciQuest Investor contact:
         SciQuest, Inc.
         Jamie Andelman, 919-659-2322
         jandelman@sciquest.com
 
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