CHARLESTON, S.C., May 21, 2018 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ:BNFT), a leading cloud-based benefits management platform and services provider, today announced that funds managed by Goldman Sachs & Co. LLC, stockholders of the Company since 2007, intend to offer for sale in an underwritten secondary offering 2,500,000 shares of the Company’s common stock. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to 375,000 additional shares of common stock at the same price. Benefitfocus will not receive any proceeds from the sale of the shares by the selling stockholders in this offering and the offering will not impact the number of shares outstanding. The closing of the offering is expected to occur on May 24, 2018, subject to customary closing conditions.

J.P. Morgan Securities LLC is acting as the sole underwriter of the offering.

About Benefitfocus

Benefitfocus (NASDAQ:BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers’ health, wealth and lifestyle. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services, enable employers, insurance brokers and carriers to simplify the complexity of benefits administration and deliver a world-class benefits experience. Learn more at www.benefitfocus.com, LinkedIn and Twitter.