Tax and consulting firm Andersen rebounds after $189 mln secondary offering

Andersen

20/08/2026 15:05

** Tax and consulting services firm Andersen Group's ANDG.N shares up 5% at $47.25 in early Thurs trading after secondary offering priced
** ANDG late Weds announced ~4.3 mln shares sold by certain holders at $44 for gross proceeds of approx $188.5 mln
** Offering price represents 2.3% discount to stock's last sale of $45.02 on Weds
** Stock closed at $49 on Mon, just prior to launch of the offering; sellers comprise ANDG's senior management and directors, per the prospectus
** RW Baird, Truist, UBS and William Blair are bookrunners
** ANDG last week reported Q2 rev up 24% yr/yr to $217.7 mln, above Street consensus of $199.3 mln; it cited strong client additions, higher volumes and service line expansion
** San Francisco, California-based ANDG, which has ~113 mln shares outstanding, went public in Dec after IPO priced at $16
** Stock hit record intraday high of $50.76 on Aug 12
** 5 of 7 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT of $55.50 up from $41.50 a month ago, per LSEG data

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