Home / Market News / Ping Identity stock slips as secondary offering announced

Ping Identity stock slips as secondary offering announced

Ping Identity Holding Corp. shares slipped in the extended session Monday after the cybersecurity company announced a secondary offering for existing shareholders to sell off stock. Ping shares declined 1.4% after hours, following a 1.1% rise in the regular session to close at $32.84. The company said shareholders registered 7.5 million shares for sale, with another 1.2 million to cover overallotments. About 80 million shares are outstanding, with Vista Equity Partners holding a 68% stake. Goldman Sachs, BofA Securities, RBC Capital Markets and Citigroup are among underwriters for the offering. Back in September, Ping launched its initial public offering, and shares are 119% above their $15 pricing. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Read Full Story