Tax firm Andersen slides after launching secondary offering
BUZZ-Tax firm Andersen slides after launching secondary offering ** Tax and financial advisory firm Andersen Group's ANDG.N shares down 7% at $44.55 in extended trading after secondary offering news
** ANDG launches ~4.3 mln share offering by certain selling holders
** Baird, Truist and UBS lead bookrunners, joined by William Blair as bookrunner
** ANDG stock closed up 0.2% at $49 on Mon
** San Francisco, California-based firm, which has ~113 mln shares outstanding, went public in Dec after 11 mln share IPO priced at $16
** Stock hit record intraday high of $50.76 last Weds
** 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))
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Tax and consulting firm Andersen rebounds after $189 mln secondary offering
Brief: Andersen Announces Pricing Of Secondary Offering
Tax firm Andersen slides after launching secondary offering