First Advantage Announces Pricing of Secondary Offering of Common Stock
November 10, 2021
ATLANTA, Nov. 10, 2021 (GLOBE NEWSWIRE) -- First Advantage Corporation (“First Advantage”) (NASDAQ: FA), a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital, today announced the pricing of the previously announced underwritten secondary offering by certain of its stockholders (the “Selling Stockholders”), including affiliates of Silver Lake Group, L.L.C., of 15,000,000 shares of common stock of First Advantage pursuant to a registration statement filed by First Advantage with the U.S. Securities and Exchange Commission (the “SEC”), at the public offering price of $20.00 per share. The Selling Stockholders have granted the underwriters in the offering a 30-day option to purchase up to an additional 2,250,000 shares of common stock. No shares are being sold by First Advantage. The Selling Stockholders will receive all of the proceeds from this offering. The offering is expected to close on November 15, 2021, subject to customary closing conditions.
Barclays and BofA Securities are acting as lead bookrunners for the offering. Citigroup, Evercore ISI, Jefferies, RBC Capital Markets, Stifel and HSBC are acting as bookrunners, and Citizens Capital Markets, KKR Capital Markets LLC, MUFG, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc. and Roberts & Ryan are acting as co-managers for the offering.
A registration statement on Form S-1 relating to the offering has been filed with and declared effective by the SEC. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
The offering is being made only by means of a prospectus. Copies of the prospectus related to the offering can be obtained, when available, from: Barclays Capital Inc., Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847, or by email at Barclaysprospectus@broadridge.com; or BofA Securities, Inc., Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina, 28255-0001, by email at email@example.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify, including those described under the “Risk Factors” under First Advantage’s registration statement relating to the offering. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.
About First Advantage
First Advantage (NASDAQ: FA) is a leading global provider of technology solutions for screening, verifications, safety, and compliance related to human capital. First Advantage delivers innovative solutions and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology platform, First Advantage’s products and solutions help companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants, and drivers. Headquartered in Atlanta, Georgia, First Advantage performs screens in over 200 countries and territories on behalf of its more than 30,000 customers.
Stephanie D. Gorman
Vice President, Investor Relations
Senior Brand Communications Manager