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Friday, March 31, 2023

Cardlytics (NASDAQ: CDLX) Declares Pricing Of Public Offering Of Common Stock

Cardlytics, Inc. (NASDAQ: CDLX) declared the pricing of an underwritten public offering of 3,850,000 shares of its common stock. CDLX has set a price to the public of $130.00 per share. The net profit of the offering is anticipated to be $500.5 million subtracting the markdowns and charges and other offering expenditures.

Additionally, CDLX has also provided the 30-day option to buy up to an extra 577,500 shares of common stock at the public offering price subtracting the underwriting markdowns and charges. The offering is anticipated to execute on or about March 5, 2021, dependent on the usual execution conditions.

Cardlytics, Inc. (NASDAQ: CDLX) shares were down 5.15% as it lost -7.28 at the time of writing on Tuesday. Cardlytics, Inc. (NASDAQ: CDLX) share price went from a low point around $27.33 to briefly over $161.47 in the past 52 weeks, though shares have since pulled back to $134.00. CDLX’s market cap has stayed high, reaching $3.69 billion at the time of writing.

The sole book-running manager of the firm is J.P. Morgan and BofA Securities. Moreover, Wells Fargo Securities is also serving as a book-running administrator for the offering. Raymond James is serving as an administrator for the offering. The offering is made following the filing of a shelf registration declaration to the SEC which was declared valid on March 1, 2021.

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