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MeridianLink Shares Fall on Secondary Offering

PE owner Thoma Bravo sells 6M shares

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.

 

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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