MeridianLink Announces Pricing of $131.2M Secondary Offering of 6.9M Shares by Certain Selling Stockholders and Related Common Stock Repurchase at $19/Share
Portfolio Pulse from Benzinga Newsdesk
MeridianLink, Inc. (MLNK) announced the pricing of a $131.2M secondary offering of 6.9M shares at $19/share by certain selling stockholders, with an increase of 406,015 shares from the initially announced size. The offering includes a 30-day option for underwriters to purchase up to an additional 675,000 shares. MeridianLink will repurchase 2,406,015 shares as part of the offering, which is set to close on February 9, 2024. The company will not receive any proceeds from the sale by the selling stockholders.
February 07, 2024 | 10:36 am
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MeridianLink, Inc. announces a secondary offering of 6.9M shares at $19/share, including a repurchase of 2,406,015 shares. The offering will close on February 9, 2024, with no proceeds going to the company.
The secondary offering and share repurchase by MeridianLink could signal confidence from the management in the company's valuation, potentially stabilizing the stock price. However, since the company won't receive any proceeds from the sale, the direct financial impact on the company is neutral. The market's reaction could vary depending on investors' interpretation of the share repurchase and the increase in shares offered.
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IMPORTANCE 75
RELEVANCE 100