CINCINNATI - Investment funds advised by Apax Partners LLP have initiated an underwritten public offering of 8,000,000 shares of Paycor HCM , Inc. (NASDAQ: NASDAQ:PYCR) common stock, as announced today.
The shares are being sold by Pride Feeder, LP and AIX Pride Syndication L.P., with 5,651,106 and 2,348,894 shares on offer, respectively. Both selling stockholders are controlled by Apax Partners LLP.
Paycor, a leading provider of human capital management software, will not receive any proceeds from the sale but will incur the costs associated with the sale, exclusive of underwriting discounts and commissions. Goldman Sachs & Co (NYSE:GS). LLC is the underwriter for this offering.
Prior to the closing of the offering, Pride Aggregator, LP will distribute 11,038,476 shares of Paycor's common stock to its limited partners, which includes the selling stockholders.
From this distribution, 8,000,000 shares will be part of the public offering, 2,517,635 shares will be subject to a 30-day lock-up agreement, and 520,841 shares will be distributed to approximately 80 limited partners not subject to lock-ups.
The public offering is made possible through Paycor's shelf registration statement on Form S-3, which has been filed with the Securities and Exchange Commission (SEC) and declared effective. Interested parties can access the prospectus and a free writing prospectus from the SEC's website or directly from Goldman Sachs & Co. LLC.
This press release contains forward-looking statements regarding the proposed offering, which are subject to risks and uncertainties. Paycor has clarified that these statements are based on current intentions and expectations and that actual results may differ materially.
Paycor's platform is designed to modernize all aspects of people management and is trusted by over 30,000 customers. The company emphasizes a focus on leadership needs, offering a unified HR platform with integration capabilities, analytics, talent development tools, and configurable technology tailored to specific industry requirements.
The information for this article is based on a press release statement.
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