SciQuest, which offers software that allows organizations to engage in strategic procurement from suppliers, announced terms for its IPO on Thursday. The Cary, NC-based company plans to raise $63 million by offering 6 million shares at a price range of $9.50-$11.50. At the mid-point of the proposed range, SciQuest will command a market value of $221 million. SciQuest, which was founded in 1995 and booked $36 million in sales last year, plans to list on the NASDAQ under the symbol SQI. Thomas Weisel Partners is the lead underwriter on the deal, for which timing was not disclosed.
