Alight Announces Upsize and Pricing of Secondary Offering
Alight, Inc. (NYSE: ALIT) announced an increased underwritten secondary public offering of 46,000,000 shares of its Class A common stock at $9.00 per share. The offering, arranged by Blackstone Inc. and other funds, includes a 30-day option for underwriters to purchase an additional 6,900,000 shares. Alight will not sell any shares and will not receive proceeds. Concurrently, the company intends to repurchase $10 million in shares from the Selling Stockholders. The offering is expected to close around March 6, 2023.
- Upsized offering from 40 million to 46 million shares indicates strong demand.
- Public offering price set at $9.00, potentially maintaining investor interest.
- Alight is not benefiting financially from the offering as it will not receive any proceeds.
- Share dilution risk as the offering increases total shares outstanding.
In addition, Alight has entered into a repurchase agreement with certain Selling Stockholders to repurchase an aggregate of
J.P. Morgan and
A registration statement relating to these securities has been filed with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Alight Solutions
Alight is a leading cloud-based human capital technology and services provider that powers confident health, wealth and wellbeing decisions for 36 million people and dependents. Our Alight Worklife® platform combines data and analytics with a simple, seamless user experience. Supported by our global delivery capabilities, Alight Worklife is transforming the employee experience for people around the world. With personalized, data-driven health, wealth, pay and wellbeing insights, Alight brings people the security of better outcomes and peace of mind throughout life’s big moments and most important decisions.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements that relate to expectations regarding the performance and outlook for Alight’s business, financial results, liquidity and capital resources, the expected benefit of recent acquisitions and investments in our business, the expected return on investment from the use of our products, the success of our expanded relationships with existing clients, the recovery of certain of our businesses, and other non-historical statements. In some cases, these forward-looking statements can be identified by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “appears,” “approximates,” “foresees,” “might,” “possible,” “would” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties including, among others, risks related to declines in economic activity in the industries, markets, and regions our clients serve, including as a result of increases in inflation rates or changes in monetary and fiscal policies, risks related to the performance of our information technology systems and networks, risks related to our ability to maintain the security and privacy of confidential and proprietary information, risks related to changes in regulation, risks related to the ongoing COVID-19 pandemic, risks related to legal proceedings against us, risks related to the significant control certain existing investors have over us and risks related to competition in our industry. Additional factors that could cause Alight’s results to differ materially from those described in the forward-looking statements can be found under the section entitled “Risk Factors” of Alight’s Annual Report on Form 10-K, filed with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20230301006221/en/
Investors:
Alight Investor Relations
investor.relations@alight.com
Media:
mackenzie.lucas@alight.com
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FAQ
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