CHARLESTON, S.C., March 01, 2019 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today announced that on February 28, 2019 the company priced its secondary offering of 5,704,758 shares of its common stock at a price of $48.25 per share. All of the shares are being sold by certain funds managed by Goldman Sachs & Co. LLC and Mercer LLC. 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.

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.