Loading...
Loading...
- SolarWinds Corp SWI subsidiary and cloud-based software solutions provider N-able, Inc proposed to sell 20.6 million shares at $10.91 per share from a private institutional placement.
- The estimated offering proceeds are $216 million.
- Canada Pension Plan Investment Board (CPP Investments) led the placement with other existing SolarWinds stockholders and multiple outside institutional investors.
- SolarWinds will utilize the offering proceeds for stockholder distribution and repay third-party indebtedness. N-able will not retain any of the proceeds.
- Additionally, SolarWinds expects to report second-quarter FY21 revenue growth of 6% year-on-year to the range of $260.8 million - $262 million, beating the analyst consensus of $256.44 million.
- It estimates an adjusted EBITDA margin of 42%-43% and sees a net loss of $10.4 million- $11.3 million.
- N-able sees revenue guidance of $84.8 million - $85 million, implying a 16% Y/Y growth.
- Price action: SWI shares traded lower by 0.17% at $17.38 in the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in