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Ellie Mae files registration statement for proposed IPO

NationalMortgageProfessional.com
May 03, 2010

Ellie Mae Inc. has announced that it has filed a registration statement on Form S-1 with the U.S. Securities & Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of shares of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined. The shares of common stock to be sold in this offering are proposed to be sold by Ellie Mae and certain stockholders. The underwriters of the offering will be Goldman, Sachs & Company; William Blair & Company, Keefe, Bruyette & Woods, Macquarie Capital, Piper Jaffray and ThinkEquity LLC. The First American Corporation, Charter Legacy LLC, funds affiliated with Alloy Ventures, and funds affiliated with Alta Partners hold a notable stake in the company. The offering will be made only by means of a prospectus. When available, a copy of the preliminary prospectus relating to the offering may be obtained from Goldman, Sachs & Company, 200 West Street, New York, NY 10282-2198 Attention: Prospectus Department (212-902-1171). Ellie Mae was founded by Sig Anderman, creator of CompuFund (one of the first computer-based mortgage banking networks). Their first product was Web sites to mortgage professionals. In 2000, Ellie Mae jumped into the loan origination software (LOS) marketplace by purchasing Gensis 2000 from iOwn. Ellie Mae followed that purchase to take a dominating position in the LOS market by purchasing Contour Software, a loan origination software provider used mostly by mortgage bankers from First American. With acquisitions plus Ellie Mae's pre-existing customers, they were able to build the ePASS (a property they acquired through their purchase of Gensis 2000) they were able to reach the milestone in 2006 of having one out of every three mortgages going through the ePASS network. A registration statement relating to these shares of Ellie Mae common stock has been filed with the SEC but has not yet become effective. These shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the shares of Ellie Mae’s common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Click here to view the full SEC filing by Ellie Mae. For more information, visit www.elliemae.com.  
Published
May 03, 2010
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