SciQuest Shares Surge After $57 Million Software IPO
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SciQuest Inc., the provider of procurement software to colleges, drugmakers and governments, surged 29 percent after raising $57 million in the third U.S. initial public offering of September.
SciQuest climbed $2.77 to $12.27 in Nasdaq Stock Market trading today. The Cary, North Carolina-based company sold 6 million shares at $9.50 each yesterday after offering them for as much as $11.50 apiece, a filing with the Securities and Exchange Commission and data compiled by Bloomberg showed.