Certara Stock Under Pressure On Equity Raise Of $140M At 12% Discount

Certara Inc (NASDAQ:CERT) has priced its previously announced underwritten public offering of 4.5 million shares at $31.00 per share for gross proceeds of $139.5 million.
The offer price represents a discount of almost 12% from the last close price of $35.14 on Wednesday.
Certain selling stockholders are offering 15.5 million shares of common stock.
Certara will use the proceeds for general corporate purposes, including acquisitions.
Recently, Certara agreed to Buy Pinnacle 21 for $310 million in cash and stock.
Price Action: CERT shares are down 8.96% at $31.99 during the premarket session on the last check Thursday.