Shares of intelligent identity solution for the enterprise, Ping Identity Holding Corp. (PING) are down more than 6% Tuesday morning.
The company today priced the follow-on offering of 6 million common shares, held by investment funds affiliated with Vista Equity Partners at $24 per share.
The offering, from which Ping Identity will not receive any proceeds, is expected to close on June 17, 2021.
PING is at $22.90 currently. It has traded in the range of $19.97- $37.80 in the past one year.
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