Intapp Announces Launch Of Underwritten Secondary Offering Of Aggregate Of 5M Shares By Selling Stockholders
Portfolio Pulse from Benzinga Newsdesk
Intapp, Inc. has announced the launch of an underwritten secondary offering of 5 million shares, which will be sold by existing stockholders. The company itself will not receive any proceeds from the sale of these shares.
November 14, 2023 | 9:51 pm
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Intapp, Inc. is not issuing new shares but existing stockholders are selling 5 million shares. The company will not benefit financially from this transaction.
Secondary offerings often lead to a dilution of existing shares, which can result in downward pressure on the stock price. Although the company is not issuing new shares, the increase in available shares for sale may still negatively impact the stock price in the short term. However, since the company is not receiving any proceeds, this event does not reflect on the company's performance or financial health.
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RELEVANCE 100