Orrick Advises Underwriters in Secondary Public Offering of Benefitfocus Common Stock


Orrick represented Goldman, Sachs & Co., Deutsche Bank Securities Inc. and Jefferies LLC as joint book-running managers and representatives of the underwriters for a secondary public offering by selling stockholders of 2,854,560 shares of Benefitfocus, Inc. common stock.  The gross proceeds raised in the offering by the selling stockholders were approximately $110 million.  The selling stockholders were funds affiliated with Goldman Sachs that have been stockholders of the company since 2007. 
Benefitfocus, Inc. is a leading provider of cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers, serving more than 23 million consumers on its platform. 
The Orrick team who advised on this transaction included New York and Silicon Valley Capital Markets partner Christopher Austin, New York Capital Markets of counsel Stephen Ashley and New York Corporate associate Spencer Cohen
View the press release below.