Paycor HCM's Selling Shareholders Offload Stake Via Secondary Equity Offering

October 15, 2021 12:57 PM | 1 min read | Make a Comment

Software-as-a-Service provider Paycor HCM Inc PYCR priced 12 million shares at $32 per share by selling shareholders in a secondary equity offering.
The offer price is at par with Paycor HCM's October 14 closing price. The gross proceeds are $384 million.
The underwriters have a 30-day option to purchase additional shares up to 1.8 million.
Paycor HCM will not receive any proceeds from the sale of the shares by the selling stockholders.
Price Action: PYCR shares traded lower by 1.17% at $31.64 in the market session on the last check Friday.

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