Shares of MeridianLink Inc. (NYSE: MLNK), a Costa Mesa-based supplier of software to small credit unions and banks, fell after it announced a secondary public offering of 6 million shares of its common stock by certain funds managed by Thoma Bravo L.P.
MeridianLink, which has 76.5 million basic shares as of June 30, said it will not receive any proceeds from the sale of the shares being offered by the selling stockholders. Thoma Bravo acquired MeridianLink in 2018 and took it public in 2021.
The shares declined 5.3% to $21.70 after the announcement. In regular trading today, the shares fell 0.9% to $22.92 and a $1.7 billion market cap.
J.P. Morgan Securities LLC is acting as the underwriter and sole book-running manager for the proposed offering.
