MeridianLink Announces Pricing of Secondary Offering of Common Stock
MeridianLink (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, has announced the pricing of a secondary offering of 6,000,000 shares of its common stock. The offering is being made by certain funds managed by Thoma Bravo, L.P. (the Selling Stockholders). The underwriter, J.P. Morgan Securities , has been granted a 30-day option to purchase up to an additional 900,000 shares.
The offering consists entirely of shares sold by the Selling Stockholders, with MeridianLink not receiving any proceeds. It is expected to close on September 30, 2024, subject to customary conditions. The shares will be offered through various methods, including direct sales, brokerage transactions, and negotiated deals. The offering is being made pursuant to an effective shelf registration statement on Form S-3 filed with the SEC.
MeridianLink (NYSE: MLNK), un fornitore leader di piattaforme software moderne per istituzioni finanziarie e agenzie di reporting dei consumatori, ha annunciato la determinazione del prezzo di un'offerta secondaria di 6.000.000 azioni delle sue azioni ordinarie. L'offerta è effettuata da alcuni fondi gestiti da Thoma Bravo, L.P. (i Venditori di Azioni). L'intermediario, J.P. Morgan Securities, ha ricevuto un'opzione di acquisto di ulteriori 900.000 azioni per un periodo di 30 giorni.
L'offerta consiste interamente di azioni vendute dai Venditori di Azioni, con MeridianLink che non riceve alcun provento. Si prevede che si concluderà il 30 settembre 2024, soggetta a condizioni consuete. Le azioni saranno offerte tramite vari metodi, tra cui vendite dirette, transazioni di intermediazione e accordi negoziati. L'offerta è effettuata ai sensi di una dichiarazione di registrazione per scaffali efficace su modulo S-3 depositata presso la SEC.
MeridianLink (NYSE: MLNK), un proveedor líder de plataformas de software modernas para instituciones financieras y agencias de informes de consumidores, ha anunciado el precio de una oferta secundaria de 6,000,000 acciones de su capital social. La oferta es realizada por ciertos fondos administrados por Thoma Bravo, L.P. (los Vendedores de Acciones). El suscriptor, J.P. Morgan Securities, ha recibido una opción de compra de hasta 900,000 acciones durante un periodo de 30 días.
La oferta consiste enteramente en acciones vendidas por los Vendedores de Acciones, sin que MeridianLink reciba ningún ingreso. Se espera que finalice el 30 de septiembre de 2024, sujeto a condiciones habituales. Las acciones se ofrecerán a través de varios métodos, incluyendo ventas directas, transacciones de corretaje y acuerdos negociados. La oferta se realiza de conformidad con una declaración de registro en estantería efectiva en el formulario S-3 presentado ante la SEC.
MeridianLink (NYSE: MLNK)는 금융 기관 및 소비자 보고 기관을 위한 현대 소프트웨어 플랫폼의 선도적인 공급업체로, 6,000,000 주의 보통주에 대한 추가 공모 가격을 발표했습니다. 이 공모는 Thoma Bravo, L.P.가 관리하는 일부 펀드(판매 주주)에서 진행됩니다. 인수업체 J.P. Morgan Securities는 추가로 900,000 주의 구매 옵션을 30일 동안 부여받았습니다.
이 공모는 판매 주주가 판매하는 주식으로만 구성되며, MeridianLink는 수익을 받지 않습니다. 2024년 9월 30일에 마감될 것으로 예상되며, 일반적인 조건에 따라 진행됩니다. 주식은 직접 판매, 중개 거래, 협상 계약 등 다양한 방법으로 제공됩니다. 이 공모는 SEC에 제출된 S-3 양식에 따라 효력이 있는 선 등록 성명에 따라 진행됩니다.
MeridianLink (NYSE: MLNK), un fournisseur leader de plateformes logicielles modernes pour les institutions financières et les agences de reporting des consommateurs, a annoncé le prix d'une offre secondaire de 6.000.000 actions de son capital social. Cette offre est réalisée par certains fonds gérés par Thoma Bravo, L.P. (les Vendeurs d'Actions). Le souscripteur, J.P. Morgan Securities, a obtenu une option de 30 jours pour acheter jusqu'à 900.000 actions supplémentaires.
L'offre se compose entièrement d'actions vendues par les Vendeurs d'Actions, MeridianLink ne recevant aucun produit. Elle devrait se conclure le 30 septembre 2024, sous réserve des conditions habituelles. Les actions seront proposées par divers moyens, y compris des ventes directes, des transactions de courtage et des accords négociés. L'offre est réalisée en vertu d'un formulaire S-3 de déclaration d'enregistrement de placement efficace déposé auprès de la SEC.
MeridianLink (NYSE: MLNK), ein führender Anbieter moderner Software-Plattformen für Finanzinstitute und Verbraucherberichterstattungsagenturen, hat die Preisgestaltung eines sekundären Angebots von 6.000.000 Aktien seiner Stammaktien bekannt gegeben. Das Angebot erfolgt durch bestimmte von Thoma Bravo, L.P. verwaltete Fonds (die verkaufenden Aktionäre). Der Underwriter, J.P. Morgan Securities, hat eine 30-tägige Option erhalten, bis zu 900.000 Aktien zusätzlich zu erwerben.
Das Angebot besteht vollständig aus Aktien, die von den verkaufenden Aktionären verkauft werden, wobei MeridianLink keine Einnahmen erhält. Es wird erwartet, dass das Angebot am 30. September 2024 abgeschlossen wird, vorbehaltlich der üblichen Bedingungen. Die Aktien werden über verschiedene Methoden angeboten, einschließlich Direktvertrieb, Brokerage-Transaktionen und verhandelten Vereinbarungen. Das Angebot erfolgt gemäß einer wirksamen Shelf-Registrierungsanmeldung auf Formular S-3, die bei der SEC eingereicht wurde.
- Secondary offering indicates potential market demand for MLNK shares
- Thoma Bravo's partial exit may signal confidence in company's independent operations
- Potential dilution of existing shareholders' ownership
- Large sale by major stockholder could negatively impact stock price
Insights
This secondary offering of 6 million shares by Thoma Bravo is a significant event for MeridianLink. While the company won't receive proceeds, it impacts the stock's supply and potentially its price. The additional 900,000 share option could further increase selling pressure.
Key points to consider:
- The offering size represents about
3.4% of MeridianLink's$1.75 billion market cap - Thoma Bravo reducing its stake may signal a shift in long-term investor confidence
- The transaction could increase the stock's public float, potentially improving liquidity
- Short-term price pressure is likely due to increased supply
- J.P. Morgan's involvement as sole underwriter adds credibility to the offering
Investors should monitor the stock's price action and volume around the September 30 closing date. Long-term, this may represent a gradual exit by a major shareholder, which could impact governance and strategic direction.
This secondary offering signals a significant shift in MeridianLink's ownership structure. As Thoma Bravo reduces its stake, it's important to consider the broader market implications:
- Increased public float may attract more institutional investors, potentially stabilizing long-term price
- The timing of the sale could indicate Thoma Bravo's view on MeridianLink's near-term growth prospects or overall market conditions
- Investor sentiment may waver, as large stakeholder sales can be perceived negatively
- The fintech sector's performance and MeridianLink's recent financial results will be key context for this move
Retail investors should watch for any changes in analyst coverage or ratings following this offering, as it may prompt reassessments of the company's valuation and growth trajectory. The market's reaction to this sale will provide insights into investor confidence in MeridianLink's future.
J.P. Morgan Securities LLC is acting as the underwriter and sole book-running manager for the Offering.
The underwriter proposes to offer the shares of common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers in negotiated transactions or in a combination of such methods of sale, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices, subject to its right to reject any order in whole or in part.
The Offering is being made pursuant to an effective shelf registration statement on Form S-3 (Registration No. 333-276336), which was filed with the Securities and Exchange Commission (“SEC”) on December 29, 2023 and became effective on January 8, 2024, including the base prospectus and a final prospectus supplement expected to be filed on September 27, 2024. You may get these documents for free, including the prospectus supplement, once available, by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement, once available, and the accompanying base prospectus may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements which are not historical facts and are considered forward-looking 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. Generally, these statements can be identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions, although not all forward-looking statements contain these identifying words. Further, statements describing our strategy, outlook, guidance, plans, intentions, or goals are also forward-looking statements. These forward-looking statements reflect our predictions, expectations, or forecasts, including, but not limited to, statements regarding the closing of the Offering on the anticipated terms or at all. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, changes in market and economic condition and in the selling stockholders’ plan of Offering, as well as those risks set forth in Item 1A. Risk Factors, or elsewhere, in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, any updates in our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K, and our other SEC filings, including the prospectus and prospectus supplement pursuant to which the Offering will be made. These forward-looking statements are based on reasonable assumptions as of the date hereof. The plans, intentions, or expectations disclosed in our forward-looking statements may not be achieved, and you should not rely upon forward-looking statements as predictions of future events. We undertake no obligation, other than as required by applicable law, to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240926577970/en/
Investor Relations Contact
Gianna Rotellini
(714) 332-6357
InvestorRelations@meridianlink.com
Source: MeridianLink, Inc.
FAQ
How many shares are being offered in MeridianLink's (MLNK) secondary offering?
When is the expected closing date for MeridianLink's (MLNK) secondary offering?
Who are the selling stockholders in MeridianLink's (MLNK) secondary offering?
Will MeridianLink (MLNK) receive any proceeds from this secondary offering?
