MOUNTAIN VIEW, Calif. – Sagent Technology Inc., a producer of business software programs that gather, analyze and deliver data, went public April 14, offering 5 million shares at $9 apiece. The stock priced at the high end of the $7 to $9 filing range.
Crosspoint Venture Partners, El Dorado Ventures, Greylock Equity Limited Partnership and U.S. Venture Partners were venture backers. There were no selling shareholders.
The offering, underwritten by Donaldson, Lufkin & Jenrette, Hambrecht & Quist and U.S. Bancorp Piper Jaffray, left 23.6 million shares outstanding.
Sagent Technology, founded in June 1995, develops computer solutions that consolidate information into a common structure so it is accessible to the user. The company’s main product, Sagent Data Mart Solution, collects data from a variety of sources such as the Internet and mainframe and relational databases and groups it into a knowledge repository known as a data mart.
Proceeds from offering, estimated to be worth $45 million, will be used for general corporate purposes.
Shanda Bahles, general partner of El Dorado Ventures, and Richard Shapero, general partner of Crosspoint Venture Partners, became directors in May 1995.
Sagent Technology – Selected Financial
(in thousands, except per share data )
Year Ended December 31, Three Months Ended December 31,
1996 1997 1998 1997 1998
Total revenue, net 279 7,078 17,043 2,425 5,746
Net loss -7,039 -6,900 -13,701 -2,214 -1,988
Net loss per share* -0.74