Seeking Alpha

Veeva makes new post-IPO lows after pricing offering

  • Veeva's (VEEV -6.5%) 12M-share stock offering, first announced on Monday afternoon, has been priced at $26.35, 3.3% below yesterday's closing price of $27.27.
  • The cloud life sciences software vendor is selling 890K new shares, and the rest on behalf of existing holders (inc. CEO Peter Gassner).
  • Shares have made new post-IPO lows, but remain above their $20 October IPO price.
Comments (4)
  • Chris DeMuth Jr.
    , contributor
    Comments (7298) | Send Message
     
    The relationship in supply and demand for this equity over the next month means than it would be reasonable to expect many more new lows in the weeks ahead. It is still expensive and there will be much more of it for sale.
    26 Mar 2014, 02:50 PM Reply Like
  • Lsahn
    , contributor
    Comments (5) | Send Message
     
    Seriously? Over 90% is insiders dumping the stock? What could go wrong with that...
    26 Mar 2014, 10:04 PM Reply Like
  • straton
    , contributor
    Comments (113) | Send Message
     
    Seems to me, the CEO should be sued by CNBC and Jim Cramer as he over stated the companies prospects and used Mad Money for one last pump prior to the kill of this lame horse.
    27 Mar 2014, 04:17 AM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (7298) | Send Message
     
    "Overstate the Company’s Prospects and Use Mad Money for One Last Pump Prior to the Kill of this Lame Horse" is actually the title of Chapter 1 of the tech IPO handbook.
    27 Mar 2014, 08:01 AM Reply Like
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