ExlService Holdings, Inc. (EXL) has priced its initial public offering of 5,000,000 shares of its common stock at USD13.50 per share. All of the shares were offered by the Company. The shares will trade on the Nasdaq Global Select Market under the trading symbol “EXLS”.
EXL intends to use the net proceeds from the offering to repurchase or redeem all of its issued and outstanding Series A Preferred Stock, repay all of its outstanding senior promissory notes payable to certain of its stockholders and for working capital and general corporate purposes.
Citigroup Corporate and Investment Banking and Goldman, Sachs & Co. acted as joint book-running managers of the offering and Merrill Lynch, Pierce, Fenner & Smith Incorporated and Thomas Weisel Partners LLC acted as co-managers.