Silver Lake funds launch secondary offering of 15,000,000 First Advantage shares
FA•Silver Lake funds and affiliates plan to sell 15,000,000 First Advantage shares in an underwritten secondary offering. The selling stockholder will receive all proceeds, and First Advantage will not sell shares.
1. Offering details
Silver Lake funds and affiliates plan to sell 15,000,000 First Advantage common shares in a public offering at a fixed price. The selling stockholder will receive all proceeds; First Advantage is not selling shares. A 30-day lock-up applies to the selling stockholder, while up to 5,300,000 shares distributed to limited partners around closing are exempt. Barclays and J.P. Morgan are underwriting the offering.
