Ping Identity Prices Secondary Equity Offering By Vista Equity Partners At 3% Discount

The Intelligent Identity solution provider Ping Identity Holding Corp's PING selling shareholders Vista Equity Partners priced 6 million shares at $23.85 per share in a secondary public offering.
The estimated offering proceeds are $143.1 million. The offer price implies a 2.7% discount to Ping Identity's Friday closing price of $24.50.
The underwriters have a 30-day option to purchase additional shares up to 0.9 million shares. Ping Identity will not receive any of the proceeds from the offering.
The stock has lost 14.5% year-to-date.
Price Action: PING shares traded lower by 4.65% at $23.37 on the last check Monday.

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