BROOKFIELD, Wis., Dec. 11, 2014 (GLOBE NEWSWIRE) — Connecture, Inc.
(Connecture), today announced the pricing of its initial public
offering of 6,635,000 shares of its common stock at a public offering
price of $8.00 per share. The shares are expected to begin trading on
December 12, 2014 on The Nasdaq Global Market (Nasdaq) under the ticker
symbol “CNXR.” In addition, certain selling stockholders have granted
the underwriters a 30-day option to purchase from them up to an
additional 995,250 shares of common stock at the initial public
offering price, less the underwriting discount, to cover
over-allotments, if any. Connecture will not receive any proceeds from
the sale of shares by the selling stockholders, if any.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are acting as
joint book-running managers for the offering. Wells Fargo Securities,
LLC is acting as lead manager and Raymond James & Associates, Inc. and
William Blair & Company, L.L.C. are acting as co-managers for the
offering.
The shares are being sold pursuant to a registration statement, which
was declared effective by the Securities and Exchange Commission on
December 11, 2014. The offering of these securities will only be made
by means of a written prospectus forming a part of the effective
registration statement. A copy of the prospectus related to the
offering may be obtained from Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014, telephone: 1-866-718-1649, or email:
prospectus@morganstanley.com; or J.P. Morgan Securities LLC, c/o:
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New
York 11717, or by telephone at (866) 803-9204.
This press release shall not constitute an offer to sell or a
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 Connecture
Connecture is a leading web-based consumer shopping, enrollment and
retention platform for health insurance distribution. Connecture offers
a personalized health insurance shopping experience that recommends the
best fit insurance plan based on an individual’s preferences, health
status, preferred providers, medications and expected out-of-pocket
costs. Connecture’s customers are health insurance marketplace
operators such as health plans, brokers and exchange operators, who
must distribute health insurance in a cost-effective manner to a
growing number of insured consumers. Connecture’s solutions automate
key functions in the health insurance distribution process, allowing
its customers to price and present plan options accurately to consumers
and efficiently enroll, renew and manage plan members.
CONTACT: Media Contact:
Ken Phillips
Davies Murphy Group
Ph. 781.418.2437
connecture@daviesmurphy.com
