RESTON, Va., Nov. 13, 2017 (GLOBE NEWSWIRE) -- Appian Corporation (NASDAQ:APPN), today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of 3,800,000 shares of its Class A common stock, to be offered by certain selling stockholders. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to 570,000 additional shares of Class A common stock. Appian will not receive any of the proceeds from the offering but will bear the costs associated with the offering, other than underwriting discounts and commissions.
Morgan Stanley, Goldman Sachs & Co. LLC, and Barclays are acting as book-running managers for the offering. William Blair, Canaccord Genuity, KeyBanc Capital Markets, Cowen, SunTrust Robinson Humphrey and BTIG are acting as co-managers.
Pursuant to this offering, Appian announced today that Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC, book-running managers in Appian’s recent initial public offering, are releasing a lock-up restriction with respect to certain shares of Appian’s Class A common stock held by certain officers and directors of Appian. The release will take effect concurrently with this offering, and the shares may be sold only in connection with this offering. Except for the sale pursuant to this registered offering, the lock-up restrictions shall remain in full force and effect.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. 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.
Appian (NASDAQ:APPN) provides a leading low-code software development platform that enables organizations to rapidly develop powerful and unique applications. The applications created on Appian’s platform help companies drive digital transformation and competitive differentiation.