Paycor Announces Offering of Common Stock by Selling Stockholders
06 Marzo 2024 - 10:46PM
Paycor HCM, Inc. (Nasdaq: PYCR) (“Paycor”), a leading provider of
human capital management (HCM) software, today announced the
commencement of an underwritten public offering of 8,000,000 shares
of common stock on behalf of investment funds advised by Apax
Partners LLP. The offering consists of 5,651,106 shares offered by
Pride Feeder, LP and 2,348,894 shares offered by AIX Pride
Syndication L.P., respectively. Each of the selling stockholders
are controlled by investment funds advised by Apax Partners LLP.
Paycor will not receive any of the proceeds from the sale of the
shares being offered by the selling stockholders but will bear the
costs associated with the sale of such shares, other than any
underwriting discounts and commissions.
Goldman Sachs & Co. LLC is acting as underwriter for the
proposed offering.
Pride Aggregator, LP will distribute 11,038,476 shares of
Paycor’s common stock to its limited partners prior to the closing
of the proposed offering, including the selling stockholders. Of
the 11,038,476 shares that will be distributed, (i) 8,000,000
shares will be offered for sale in the proposed offering, (ii)
2,517,635 shares that are not being offered for sale in the
proposed offering will be subject to a 30-day lock-up and (iii)
520,841 shares that are not being offered for sale in the proposed
offering will be distributed among approximately 80 limited
partners who will not be subject to lock-ups.
The proposed offering of common stock will be made pursuant to
the Company’s shelf registration statement on Form S-3 filed with
the Securities and Exchange Commission (“SEC”) and declared
effective. Before you invest, you should read the prospectus in
that registration statement and other documents the Company has
filed with the SEC for more complete information about the Company
and this offering. The proposed offering will be made only by means
of a prospectus and a free writing prospectus. A copy of the
prospectus and the free writing prospectus relating to this
offering may be obtained, when available, by visiting the SEC’s
website at www.sec.gov. Alternatively, the prospectus and the free
writing prospectus may be obtained from: Goldman Sachs & Co.
LLC, Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing
Prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any offer or sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect Paycor’s current
intentions, expectations or beliefs regarding the proposed common
stock offering. These statements may be preceded by, followed by or
include the words “aim,” “anticipate,” “believe,” “estimate,”
“expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,”
“potential,” “project,” “projection,” “seek,” “can,” “could,”
“may,” “should,” “would,” “will,” the negatives thereof and other
words and terms of similar meaning. Forward-looking statements
include all statements that are not historical facts. Such
forward-looking statements are subject to various risks and
uncertainties. Accordingly, there are or will be important factors
that could cause actual outcomes or results to differ materially
from those indicated in these statements. There is no assurance
that any forward-looking statements will materialize. You are
cautioned not to place undue reliance on forward-looking
statements, which reflect expectations only as of this date. Paycor
does not undertake any obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
About Paycor
Paycor’s human capital management (HCM) platform modernizes
every aspect of people management, from recruiting, onboarding, and
payroll to career development and retention, but what really sets
us apart is our focus on leaders. For more than 30 years, we’ve
been listening to and partnering with leaders, so we know what they
need: a unified HR platform, easy integration with third party
apps, powerful analytics, talent development tools, and
configurable technology that supports specific industry needs.
That’s why more than 30,000 customers trust Paycor to help them
solve problems and achieve their goals.
Investor Relations:
Rachel White513-954-7388IR@paycor.com
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