CHARLESTON, S.C., Feb. 26, 2019 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today announced that certain funds managed by Goldman Sachs & Co. LLC and Mercer LLC intend to offer for sale in an underwritten secondary offering an aggregate of 5,704,758 shares of the Company’s common stock. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to 855,714 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.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, and BofA Merrill Lynch are acting as lead book-running managers of the offering and Piper Jaffray & Co., Raymond James & Associates, Inc., Wedbush Securities Inc., and First Analysis Securities Corporation are co-managers.

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, carriers and suppliers to simplify the complexity of benefits administration and deliver a world-class benefits experience.