Cloudera announces 3M share follow-on offering
Cloudera announced that it has commenced a follow-on public offering of its common stock. Cloudera is proposing to sell 3M shares of common stock and the selling stockholders are proposing to sell 9M shares of common stock. Cloudera intends to use the net proceeds from its sale in this offering to fund the tax withholding obligations Cloudera will incur upon the net settlement of equity awards, the settlement of which will be concurrent with this offering. In addition, this offering is intended to facilitate an orderly distribution of shares for the selling stockholders in this offering, including certain employees and investors. Morgan Stanley, J.P. Morgan, and Allen & Company are acting as lead bookrunners for the offering. BofA Merrill Lynch, Citigroup, and Deutsche Bank Securities are acting as book-running managers and Stifel, JMP Securities, and Raymond James are acting as co-managers.