Ping Identity stock slips as secondary offering announced
Ping Identity Holding Corp. (PING) shares slipped in the extended session Monday after the cybersecurity company announced a secondary offering for existing shareholders to sell off stock. Ping shares declined 1.4% after hours, following a 1.1% rise in the regular session to close at $32.84. The company said shareholders registered 7.5 million shares for sale, with another 1.2 million to cover overallotments. About 80 million shares are outstanding, with Vista Equity Partners holding a 68% stake. Goldman Sachs, BofA Securities, RBC Capital Markets and Citigroup are among underwriters for the offering. Back in September (http://www.marketwatch.com/story/ping-identitys-stock-soars-at-open-with-first-trade-25-above-ipo-price-2019-09-19), Ping launched its initial public offering, and shares are 119% above their $15 pricing.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 06, 2020 17:21 ET (21:21 GMT)
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