SciQuest and several investors sold 4.7 million shares this morning, marking the Cary technology company's second trip to Wall Street in six months.
SciQuest went public in an initial public offering of stock in September. Today's so-called secondary offering allows it to raise more money to expand its business, and increase the number of shares on the market.
"Our goal was to put a mix of new and existing investors in the business, and we were able to add some good ones," said CEO Stephen Wiehe.
Wiehe spent the past two weeks meeting with more than 100 mutual fund managers and other investors in 12 cities, selling SciQuest's story.
On Friday, he will join other SciQuest executives and ring the opening bell at the Nasdaq stock market in Times Square.