LegalZoom Says Selling Stockholder Intends To Offer 13M Shares Of Common Stock Via Public Offering; Company Concurrently Intends To Repurchase Aggregate $45.1M Of Shares
Portfolio Pulse from Benzinga Newsdesk
LegalZoom has announced that a selling stockholder intends to offer 13 million shares of common stock via a public offering. The company also plans to repurchase an aggregate of $45.1 million of shares concurrently.
September 06, 2023 | 8:16 pm
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NEUTRAL IMPACT
LegalZoom's stock may be impacted by the selling stockholder's intention to offer 13 million shares and the company's plan to repurchase $45.1 million of shares.
The selling stockholder's intention to offer 13 million shares could increase the supply of LegalZoom's stock in the market, potentially putting downward pressure on the price. However, the company's concurrent plan to repurchase $45.1 million of shares could offset this by reducing the supply of shares in the market, potentially supporting the stock price. The net impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100