Definitive Healthcare slips on discounted stock offering

Definitive Healthcare

18/11/2021 14:09

** Shares of cloud software firm  DH.O  down 5% at $35.75
premarket 
    ** Co prices its public offering of 11 mln shares at
$36/shr, implying a discount of ~4.4% as per stock's last close
 urn:newsml:reuters.com:*:nGNXc9HkKj
    ** Underwriters have a 30-day option to purchase up to an
additional 1.65 mln shares; offering is expected to close on
Nov. 22
    ** DH intends to use net proceeds from the proposed offering
for acquisitions and general corporate purposes, including
purchasing 7 mln newly issued limited liability interests from
its subsidiary AIDH TopCo
    ** Goldman Sachs & Co LLC and J.P. Morgan are acting as lead
joint book-running managers and representatives of the
underwriters for the proposed offering 
    ** One of 8 brokerages rate the stock "buy" or higher, and 7
"hold"; their median PT is $46 - Refinitiv data
    ** As of last close, stock had fallen 13.1% since Sept. 15
debut

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))