Monday, December 4, 2017

BlackLine's Early Investors Eye Liquidity

Some of the early investors in Woodland Hills-based accounting software developer BlackLine are looking for some liquidity from their investments, more than a year since BlackLine's October 2016 IPO, and plan to sell around 4,500,000 shares of their stock. BlackLine said it is commencing an underwritten public offering of 4,500,000 shares of its common stock by investment funds affiliated with Silver Lake Sumeru, investment funds affiliated with ICONIQ and Mario Spanicciati, Chief Marketing Officer and a member of BlackLine's board of directors. The company is not selling any stock with the offering. Silver Lake Sumeru is looking to sell 2,649,698 shares (approximately $93.08M based on Monday's close price of BlackLine); funds affiliate with ICONIQ are selling 1,415,519 shares (approximately $50.12M); and Mario Spanicciati, the company's Chief Marketing Officer, is selling 434,783 shares of his stock (approximately $15.56M).