Alight slips on 40 mln share secondary offering launch

Alight

01/03/2023 22:46

** Alight Inc's  ALIT.N  shares down ~2% in extended trading
after human resources benefits platform commences secondary
offering
    ** Co says Blackstone  BX.N , Singapore's Jasmine Ventures,
New Mountain Capital and Abu Dhabi's Platinum Falcon to sell 40
mln shares
    ** In addition, Alight to repurchase $10 mln of shares from
the selling shareholders
    ** Blackstone, which has current 9.5% stake, offloading ~21
mln shares, per the prospectus filing
    ** JP Morgan and BofA jt bookrunners for offering, while
Blackstone Securities Partners is a co-mgr
    ** ALIT shares on Weds fell for 5th straight session,
closing down 2.7% at $9.34. Stock has gained 11.7% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))