Sale takes private equity firm Silver Lake's holdings to about 77.06 million shares, roughly 44% of FA's about 171.75 million shares outstanding, per an SEC filing
JP Morgan is sole underwriter for the offering
Recent share performance and analyst views
Through Monday, FA shares surged 62% year to date. The stock hit a record intraday high of $25.15 on Friday
Six of 10 analysts rate the stock "strong buy" or "buy," and four rate it "hold"; the median price target of $27 is up from $18 a month ago, per LSEG data
Shares fall after secondary offering is priced
Employment background screener First Advantage's FA.O shares down 11% to $21 before the bell on Tuesday after a secondary offering prices
Atlanta, Georgia-based FA early Tuesday announces Silver Lake offloads 12.5 million shares at $22.20
Offering price represents a 5.9% discount to the stock's last sale on Monday
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