MeridianLink shares are trading lower after the company announced the pricing of its $131.2 million secondary offering of 6.9 million shares by certain selling stockholders at $19 per share.
Portfolio Pulse from Benzinga Newsdesk
MeridianLink's stock price is trading lower following the announcement of a $131.2 million secondary offering. The offering consists of 6.9 million shares priced at $19 each, sold by certain stockholders.
February 07, 2024 | 3:46 pm
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MeridianLink's shares are trading lower due to the announcement of a secondary offering priced at $19 per share, totaling $131.2 million.
Secondary offerings often lead to a short-term decrease in stock price due to the dilution of existing shares and the perception of the company needing to raise capital. The specific details of the offering, including the price per share and the total amount raised, provide clear reasons for the potential negative impact on MeridianLink's stock price.
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