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Aug 10 - 05:55 PM

Silver - First Advantage Slides As Silver Lake To Cut Stake

By Lance Tupper  —  Aug 10 - 05:02 PM

• Employment background screening co First Advantage's shares down 6.7% at $22 post-market after secondary offering news

• Atlanta, Georgia-based FA says private equity firm Silver Lake to offload 12.5 mln shares

• JP Morgan acting as underwriter

• Prior to offering, Silver Lake owns about 89.56 mln of FA's ~171.75 mln shares outstanding, per LSEG data

• FA shares ended down 1.7% at $23.59 on Mon, trimming YTD gain to 62%

• 6 of 10 analysts rate the stock "strong buy" or "buy", 4 "hold"; median PT $27
(Lance Tupper is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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