MeridianLink drops as Thoma Bravo trims stake in secondary offering

Meridianlink

07/02/2024 12:43

** MeridianLink Inc's  MLNK.N  shares down 13.4% premarket
at $19.13, more than 2-mth low, after financial services
software provider's secondary offering prices
    ** Co announces ~6.9 mln shares sold by existing holders at
$19, 14% discount to stock's last close
    ** In addition, co to repurchase ~2.4 mln shares of offering
shares
    ** Private equity firm Thoma Bravo was to sell ~4.6 mln
shares, cutting its stake from 51.4% to 46.9%, while chief
strategy officer Timothy Nguyen to offload ~1.6 mln shares, per
the SEC prospectus filing late Tues
    ** MLNK has ~78.7 mln shares outstanding as of Feb 1
    ** Co after the bell Tues said expects Q4 net loss of
$20-$40 mln on rev of $73.5-$74.5 mln, below Street view of
$74.9 mln, per LSEG data
    ** MLNK's stock has fallen ~11% YTD through Tues after ~80%
gain in 2023

 (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))