LegalZoom Announces Secondary Offering Of 15,099,993 Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
LegalZoom.com, Inc. (NASDAQ:LZ) announced a secondary offering of 15,099,993 shares of its common stock by LucasZoom, LLC, an affiliate of investment funds advised by Permira Advisers LLC. LegalZoom is not offering any shares and will not receive any proceeds from this sale.
November 08, 2023 | 10:50 pm
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LegalZoom's secondary offering of over 15 million shares could potentially dilute the stock's value, impacting its price negatively in the short term.
Secondary offerings often lead to stock dilution, which can decrease the stock's value. As LegalZoom is not receiving any proceeds from this sale, it suggests that the selling stockholder is looking to cash out, which could be perceived negatively by the market.
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