PING - Ping identity to raise capital via stock offering

Ping Identity (NYSE:PING) proposed an underwritten public offering of 10M shares of common stock by investment funds affiliated with Vista Equity Partners. Selling Stockholders expect to grant the underwriters in the offering a 30-day option to purchase up to an additional 1.5M shares of Ping Identity’s common stock. The company will not receive any of the proceeds from the sale of the shares being offered by the selling stockholders but will bear the costs associated with the sale of such shares, other than underwriting discounts and commissions. Company statement, "The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering."

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Ping identity to raise capital via stock offering