LIVERMORE, Calif., Aug. 9, 2012 (GLOBE NEWSWIRE) --
Performant Financial Corporation (Nasdaq:PFMT) today
announced the pricing of its initial public offering of
9,000,000 shares of common stock at a price to the public of
$9.00 per share. The shares are expected to begin trading on
the Nasdaq Global Select Market on August 10, 2012 under the
symbol "PFMT." Performant Financial Corporation is
offering 1,924,000 shares and the selling stockholders are
offering 7,076,000 shares. In addition, the selling
stockholders have granted the underwriters a 30-day option to
purchase up to 1,350,000 additional shares of common stock at
the initial public offering price.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. are acting
as lead joint book-running managers. Credit Suisse Securities
(USA) LLC and Wells Fargo Securities, LLC are also acting as
joint book-running managers. William Blair & Company, L.L.C.
and SunTrust Robinson Humphrey, Inc. are acting as
The offering is being made only by means of a prospectus,
copies of which may be obtained from Morgan Stanley & Co.
LLC, 180 Varick Street, 2nd Floor, New York, New York 10014,
Attention: Prospectus Department (Tel: +1 866 718 1649;
firstname.lastname@example.org); or Goldman, Sachs & Co.,
200 West Street, New York, NY 10282, Attention: Prospectus
Department (Tel: +1 866 471 2526, e-mail:
A registration statement relating to these securities has
been filed and declared effective by the Securities and
Exchange Commission. This press release shall not constitute
an offer to sell or a solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.