Thryv down after announcing acquisition-related equity raise, preliminary results
29/10/2024 20:41
** Shares of Thryv Holdings THRY.O down 7.4% post-market to
$16.99 after small business software provider launches equity
offering to finance acquisition, and releases preliminary qtrly
results
** Co commences $75 mln stock offering to partially fund
purchase price for buy of Infusion Software (Keap)
** Acquisition of Keap, a customer relationship management,
marketing automation, and sales optimization solutions provider,
valued at $80 mln and expected to close by end of 2024, Thryv
says
** Also, co says expects Q3 rev of $178-$182 mln vs LSEG
estimate of $178.8 mln
** RBC sole bookrunner for stock offering
** THRY shares on Tues closed up 2.2% at $18.34 for 4th
straight session of gains. YTD, stock down 10%
** Co has 36.3 mln shares outstanding for nearly $670 mln
market cap, per LSEG
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((mailto:lance.tupper@thomsonreuters.com
mailto:lance.tupper@tr.com 1-646-279-6380))