Benefitfocus Inc. disclosed that J.P. Morgan Securities LLC will purchase 2.5 million of the company's common shares at $33.03 apiece from funds managed by Goldman Sachs & Co. LLC.
The transaction was pursuant to an underwriting agreement dated May 21, according to a regulatory filing.
In addition, the funds granted the underwriter an overallotment option to purchase an additional 375,000 shares for 30 days following the date of the underwriting agreement at the same price.
