Understanding The News: Update On Ellie Mae Stock Offering

*Update On Ellie Mae Stock Offering*
**Final Numbers Disclosed**

***PROGRESS reported that Ellie Mae is selling more stock. Now we have more details. Ellie Mae announced the closing of its previously announced follow-on public offering of 3,101,638 shares of its common stock at a public offering price of $17.00 per share as well as the exercise in full by the underwriters of their option to purchase 465,245 shares of common stock to cover over-allotments. Here’s the story:

****As a result, the total offering size is 3,566,883 shares, which consists of 3,465,245 shares sold by Ellie Mae and 101,638 shares sold by certain of its directors and executive officers. Ellie Mae received aggregate net proceeds of approximately $55.7 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the company. Ellie Mae intends to use the net proceeds from this offering for working capital and general corporate purposes, which may include the acquisition of, or investment in, technologies, solutions or businesses that complement the company’s business. Ellie Mae will not receive any proceeds from the sale of common stock by the selling stockholders. William Blair & Company, L.L.C. and JMP Securities LLC acted as joint book-running managers of the offering. Needham & Company, LLC, Oppenheimer & Co. Inc., D.A. Davidson & Co. and Wunderlich Securities, Inc. acted as co-managers of the offering.

****Ellie Mae has filed a registration statement (including a base prospectus and prospectus supplement) with the SEC for the offering to which this communication relates. You may get these documents for free by visiting EDGAR on the SEC website at http://www.sec.gov. Copies of the final prospectus may also be obtained from the offices of William Blair & Company at 222 West Adams Street, Chicago, IL 60606; Attention: Prospectus Department or by email at prospectus@williamblair.com or by phone at (800) 621-0687 or JMP Securities LLC at 600 Montgomery Street, Suite 1100, San Francisco, CA 94111 or by email at ccornell@jmpsecurities.com or by phone at (415) 835-8985.

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