Envestnet to raise $350 million in convertible notes offering

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ENVESTNET ($NYSE:ENV): The notes will mature on June 1, 2027, unless earlier converted, redeemed or repurchased in accordance with their terms. The notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

Price History

On Monday, Envestnet announced that it plans to raise $350 million through the sale of convertible notes. This news caused the stock to open at $52.1 and close at $55.4, up by 1.7% from the prior closing price of 54.4. The proceeds from the offering will be used for general corporate purposes, which may include working capital, capital expenditures, repayment of debt, and acquisitions.

VI Analysis

Envestnet is a high risk investment in terms of financial and business aspects. The company’s fundamentals reflect its long term potential, but there are some risks that investors should be aware of. The app has detected two risk warnings in the income sheet and balance sheet. Register with us to check it out.

VI Peers

The competition between Envestnet Inc and its competitors is fierce. Each company is vying for market share and customer loyalty. Envestnet Inc has a strong product offering and a loyal customer base.

However, its competitors are not to be underestimated. Liquid Holdings Group Inc, Clearwater Analytics Holdings Inc, and Centergistic Solutions Inc are all viable competitors in the market.

– Liquid Holdings Group Inc ($OTCPK:LIQDQ)

Liquid Holdings Group Inc is a financial technology company that provides an integrated suite of cloud-based solutions for the global hedge fund and active trading markets. The company’s solutions include order and execution management, portfolio and risk management, and compliance and reporting. Liquid Holdings Group Inc is headquartered in New York, New York.

– Clearwater Analytics Holdings Inc ($NYSE:CWAN)

Clearwater Analytics Holdings Inc is a provider of cloud-based software solutions for the global insurance industry. The company’s software solutions are used by insurance companies and other financial institutions to manage their investment portfolios, including risk management and compliance. Clearwater’s software solutions are delivered through a software-as-a-service (SaaS) model and are available on a subscription basis.

Summary

Envestnet is a provider of financial services technology and services. The company offers a suite of products and services that enable financial advisors to provide holistic financial advice to their clients. Envestnet’s products and services include portfolio management, rebalancing, performance reporting, and risk management. The company also offers data aggregation and analytics, client relationship management, and practice management tools.

Envestnet has raised $350 million through a convertible notes offering. The proceeds from the offering will be used to finance the company’s growth and for general corporate purposes.