Software and data analytics FinTech Black Knight has announced the pricing of the previously announced underwritten public offering.
The offering is for 6.2 million shares of its common stock. Each share will cost $0.0001. In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 930,000 shares of the common stock, at the public offering price, less the underwriting discount. The offering is expected to close on June 19, 2020, subject to customary closing conditions.
Black Knight anticipates that the gross proceeds from the offering will be $435.55m before deducting the underwriting discount and estimated offering expenses payable by Black Knight. Black Knight intends to use the money from the offering to repay amounts outstanding under its revolving credit facility and for working capital and general corporate purposes, which may include future acquisitions and investments.
BofA Securities, J.P. Morgan and Wells Fargo Securities are acting as the lead book-running managers for the offering. SunTrust Robinson Humphrey, Inc. is also acting as a book-running manager for the offering. BTIG, PNC Capital Markets LLC, BMO Capital Markets and Capital One Securities are acting as co-managers for the offering.
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