Alight, Inc. - ALIT STOCK NEWS

Alight, Inc. (NYSE: ALIT) announced the closing of an upsized secondary public offering of 52.9 million shares of its Class A common stock, priced at $9.00 per share. This offering, executed by funds affiliated with Blackstone and others, included the full exercise of an underwriters’ option for an additional 6.9 million shares. Alight did not sell any shares nor receive proceeds from this transaction. Concurrently, the company repurchased 1,148,435 shares at the same price from the Selling Stockholders. The offering was managed by J.P. Morgan and BofA Securities, with other firms participating as co-managers.

Alight, Inc. (NYSE: ALIT), a leading cloud-based human capital technology provider, announced that CEO Stephan Scholl and CFO Katie Rooney will participate in the Morgan Stanley Technology, Media & Telecom Conference. Their fireside chat is scheduled for March 7, 2023, at 8:00 a.m. PST. A live webcast of the event will be available here.

Alight serves 36 million users, enhancing employee experiences with personalized insights through its Alight Worklife® platform.

Alight, Inc. (NYSE: ALIT) has expanded its Alight Worklife platform to include access for employees’ spouses and families, promoting shared wellbeing journeys. Key improvements include fully integrated wellbeing solutions addressing mind, body, wallet, and life, and enhanced healthcare navigation through SmartSelect MD, providing personalized in-network provider recommendations. The platform also features a new Smart Savings Planner for financial recommendations. This release introduces 65 new features aimed at enhancing decision-making and driving business outcomes.

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.

Alight, Inc. (NYSE: ALIT) has announced a secondary public offering of up to 40 million shares of its Class A common stock by certain affiliated funds, including Blackstone Inc. and others. Notably, Alight will not sell any shares nor receive proceeds from this offering. The Selling Stockholders may grant underwriters a 30-day option to purchase an additional 6 million shares. Concurrently, Alight will repurchase $10 million worth of its Class A common stock from these investors. J.P. Morgan and BofA Securities are acting as joint lead book-running managers for the offering. A registration statement has been filed with the SEC, which became effective on April 20, 2022.

Alight reported a 7.4% revenue growth for 2022, surpassing guidance of 6-7%. Notably, its BPaaS revenue increased by 44.6% to $564 million, comprising 18% of total revenue. Fourth quarter revenue rose 9.0% to $942 million, with BPaaS bookings soaring 114.7% to $307 million. Adjusted EBITDA for the year was $659 million, aligning with expectations. For 2023, Alight forecasts revenue between $3.47 billion and $3.51 billion, reflecting a growth of 11-12%. A strategic restructuring program expected to yield $100 million in annual savings is set to commence in Q1 2023.

Alight, Inc. (NYSE: ALIT) announced that Denise Williams will join its Board of Directors effective February 3, 2023. Williams, who serves as chief people officer at FIS, brings over 25 years of human resources experience from notable companies such as IBM, Alliance Bernstein, and Coopers & Lybrand. Chairman William P. Foley highlighted her unique qualifications to offer insights as a key buyer of Alight's products and to advise on the company’s people agenda. Alight plans to expand its independent directors in the coming quarters, enhancing its governance as it navigates transformation in employee experience through innovative technology.

Alight (NYSE: ALIT) will release its fourth quarter and full year 2022 earnings results after market close on February 21, 2023, followed by a conference call at 5 pm ET. The earnings call will be accessible via phone and a webcast available on the investor.alight.com website. A replay will be available until March 8, 2023. Alight Solutions is a leader in cloud-based human capital technology, serving 36 million people globally through its Alight Worklife® platform, enhancing employee experience with personalized insights.

Alight (NYSE: ALIT) announced participation at the 25th annual Needham Growth Conference on January 11, 2023, at 9:30 a.m. EST. CEO Stephan Scholl and CFO Katie Rooney will present a fireside chat, available for live streaming here.

Alight provides cloud-based human capital technology and services, helping 36 million users make informed health and wealth decisions.