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Wednesday, Apr 24, 2024

BlackLine Prices Secondary Offering

BlackLine Inc. has priced its follow-on public offering 3.5 million shares at $33 per share, the company announced Thursday. The Woodland Hills accounting software developer filed papers with the Securities and Exchange Commission on May 12 for a secondary offering of its common stock. The company had its initial public offering in October. The shares for sale will come from existing stockholders and BlackLine won’t receive any money from the transaction. The offering is expected to close May 31. BlackLine (BL) shares closed Thursday up $1.60, or 4.8 percent, to $34.99 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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