Tuesday, July 16, 2013
Rally's Secondary Aims At Investor Liquidity
Boulder-based Rally Software filed for a secondary market offering Friday, saying that it is looking to offer up $70M of its shares to the public. The move looks to primarily be one of liquidity for its existing investors, as Rally said the offering is primarily coming from certain existing stockholders of the company. In the offering, Rally said the primary purpose of the move would to be to facilitate an orderly distribution of shares by the selling stockholders, increase the company's public float and increase the company's financial flexibility. Rally had its IPO in April. The company is now trading at around $24.72 a share, well above its original $14.00 per share IPO price only four months ago.