Orrick Advises Underwriters in Paylocity Secondary Offering

September.30.2015

Orrick represented Deutsche Bank Securities, Bank of America Merrill Lynch, William Blair & Company and Stifel as joint book-running managers and representatives of the several underwriters for a secondary public offering by selling stockholders of 4,301,000 shares of Paylocity Holding Corporation (“Paylocity”) common stock, including shares purchased by the underwriters upon exercise of their entire option to purchase additional shares. The gross proceeds raised in the offering by the selling stockholders were approximately $128 million. JMP Securities, Raymond James & Associates, Needham & Company and First Analysis Securities acted as co-managers for the offering.

Paylocity (NASDAQ: PCTY) is a cloud-based provider of payroll and human capital management (HCM) software solutions.

The Orrick team was led by Capital Markets partner Christopher Austin and included Capital Markets of counsel Stephen Ashley and associate Ajay Koduri.

View the company's press release below.