Mortgage technology company Ellie Mae (ELLI) announced an offering of 3.1 million shares of its common stock on Monday.

Proceeds from the sale will be used for acquisitions and investments in technologies or businesses that could complement the firm's business.

Ellie said it has granted the transaction's underwriters a 30-day option to acquire another 465,245 shares of common stock to cover over-allotments.

Some of Ellie's directors and executives also plan to offer an additional 101,638 shares of common stock.

William Blair & Co. and JMP Securities LLC are acting as book-running managers on the offering. Co-managers on the deal are Needham & Co., Oppenheimer & Co., D.A. Davidson & Co. and Wunderlich Securities Inc.

kpanchuk@housingwire.com