Fintech MeridianLink down after Thoma Bravo's stock sale priced

Meridianlink

27/09/2024 14:29

** MeridianLink Inc's  MLNK.N  shares down 5.3% premarket to
$21.71, a 5-week low, after secondary offering priced
    ** Financial services software provider late Thurs announced
6 mln shares sold by private equity firm Thoma Bravo
    ** Offering priced at $21.20, 7.5% discount to stock's last
sale, thefly.com reports
    ** JP Morgan sole bookrunner
    ** Prior to offering, Thoma Bravo owned ~35.58 mln shares,
or ~47% stake, per LSEG data
    ** Co has ~75.79 mln shares outstanding for ~$1.7 bln market
cap
    ** Through Thurs, MLNK down 7.5% YTD. Shares closed at
$16.30 a year ago
    ** 3 of 9 analysts rate MLNK "strong buy" or "buy", 4 have
"hold" and 2 rate "sell" with median PT of $21 - LSEG

 (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))