Paycor Prices 8 Mln Public Offering Of Common Stock By Investment Funds; Stock Down In Pre-market

(RTTNews) - Paycor HCM, Inc. (PYCR), a provider of human capital management software, Thursday announced the pricing of public offering of 8,000,000 shares of its common stock sold by investment funds being advised by Apax Partners LLP at a price public price of $20.15 per share.

Paycor shares are trading down around 5 percent in pre-market activity.

The public offering consists of 5,651,106 shares offered by Pride Feeder, LP, and 2,348,894 shares offered by AIX Pride Syndication L.P.

The company will not receive any proceeds from the sale of the shares in the public offering.

Pride Aggregator, LP will distribute 11,038,476 shares of Paycor's common stock out of which 8,000,000 shares will be offered for sale in the offering and 2,517,635 shares that are not part of the public offering will be subject to a 30-day lock-up with the remaining 520,841 shares that are not in the offering to be distributed among around 80 limited partners who won't be subject to lock-ups.

Goldman Sachs & Co. LLC is serving as the underwriter for this offering.

The offering is expected to close on March 11.

In premarket activity, Paycor shares are trading at $19.60, down 4.62% on the Nasdaq.