Alight Announces Secondary Offering Of 22.5M Shares Of Common Stock By Certain Funds Affiliated With Blackstone Inc., Jasmine Ventures Pte. Ltd., Platinum Falcon B 2018 RSC Ltd.
Portfolio Pulse from Happy Mohamed
Alight, Inc. (NYSE:ALIT) has announced a secondary public offering of up to 22.5 million shares of its Class A common stock by certain funds affiliated with Blackstone Inc., Jasmine Ventures Pte. Ltd., and Platinum Falcon B 2018 RSC Ltd. The company has also entered into a repurchase agreement with the selling stockholders to repurchase an aggregate of $10 million of shares concurrently with the closing of the offering. The offering is expected to close on August 22, 2023.
August 16, 2023 | 8:33 pm
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Alight's secondary public offering and share repurchase agreement could lead to increased liquidity and potentially impact the stock's price.
Secondary offerings increase the number of outstanding shares, which can dilute existing shareholders' ownership. However, the repurchase agreement could offset some of this dilution. The impact on the stock price will depend on the market's perception of these actions.
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