Ellie Mae (ELLI) Cuts IPO Price Outlook to $6/Share

Ellie Mae, Inc. (NYSE: ELLI) filed an amended registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Stock. Ellie Mae reduced its expected offering price from $9 - $11 to about $6 per share. Ellie Mae will be offering 7.5 million Common Shares in the offering. The company has filed to list on the New York Stock Exchange under the ticker "ELLI."

The offering is being made through Barclays Capital, William Blair & Co., Piper Jaffray, and Morgan Keegan.

Ellie Mae hosts one of the largest electronic mortgage origination networks in the United States.

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