PPD Inc. (PPD), on Thursday, announced the pricing of an underwritten public offering by certain stockholders of the company, including stockholders affiliated with Hellman & Friedman LLC and The Carlyle Group Inc., of 38 million shares of the company’s common stock at a price to the public of $32.25 per share.
The offering is expected to close on September 21, 2020, subject to customary closing conditions. The selling stockholders granted the underwriters a 30-day option to purchase up to 5.70 million additional shares of the company’s common stock at the public offering price less the underwriting discount.
The stock has been trading in the range of $10.61 – $34.99 for the past one year, and is currently trading at $33.28, up $1.03 or 3.19% Thursday morning, with trading volume surging over 4.36 million versus an average volume of 765K shares.
Source: Read Full Article