UPDATE 1-Envestnet Inc sees IPO of about $100 million

* To offer 7.7 million shares

* Co to sell about 3.9 mln shares

July 14 (BestGrowthStock) – Investment technology provider
Envestnet Inc filed with U.S. regulators for a $100.1 million
initial public offering of its common stock.

The company said it expects the offering of 7.7 million
shares to be priced between $12.00 and $14.00 per share.

In a filing with the U.S Securities and Exchange
Commission, the company said it plans to sell about 3.9 million
shares, while stockholders will sell another 3.9 million
shares.

Based on the midpoint selling price of $13.00 a share, the
company said it expects about $43.7 million in net proceeds
from the offering, which it will use for general corporate
purposes, including acquisitions.

The lead bookrunners for the IPO will be Morgan Stanley,
UBS Investment Bank and Barclays Capital, the Chicago-based
company said.

The company said it has been approved to list its common
stock on the New York Stock Exchange under the symbol “ENV.”
(Reporting by Jochelle Mendonca in Bangalore; Editing by Anne
Pallivathuckal)

UPDATE 1-Envestnet Inc sees IPO of about $100 million