Luke Juricic
1 min read
Investing.com — First Advantage Corp (NASDAQ:FA) stock fell 9.7% in premarket trading Tuesday following the pricing of an underwritten secondary offering by Silver Lake Group.
Silver Lake, through certain investment funds and affiliates, priced an offering of 15 million shares of First Advantage common stock at $21.80 per share. First Advantage is not selling any shares and will not receive any proceeds from the sale.
The global software and data company, which provides identity solutions and background screening services, announced that the offering is expected to close on or about November 12, 2026, subject to customary closing conditions.
Barclays Capital Inc. and J.P. Morgan Securities LLC are acting as the underwriters for the offering. The shares are being sold pursuant to a registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission.
First Advantage serves over 80,000 customers worldwide and conducts more than 200 million screens annually across over 200 countries and territories.
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