Trinity Ventures-backed SciQuest’s Shares Start Trading On Nasdaq

SciQuest Inc. has started trading its shares under the ticker “SQI” on Nasdaq. The Cary, N,C.-based provider of on-demand strategic procurement and supplier enablement solutions raised $57 million through its IPO. (It sold 6 million shares for $9.50 each.) Funds associated with Trinity Ventures hold a 35.9 percent stake in SciQuest after the offering, according to an SEC filing on Sept. 22. In addition, funds associated with Intersouth Partners hold a 15.4 percent stake, while River Cities SBIC III LP has a 5.1 percent stake. Shares of SciQuest recently changed hands at $12.56, up 32.21 percent, on volume of 1.8 million shares.

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