Shares of cloud-based software for K-12 education provider PowerSchool Holdings, Inc. (PWSC) are falling more than 12% Wednesday morning after the company announced pricing of secondary offering of 8.7 million shares at $21 per share.
The sharers are selling by certain stockholders associated with Onex Partners Manager LP and Vista Equity Partners as well as Hardeep Gulati, and PowerSchool will not receive any proceeds from the offering, the company said.
The offering is expected to close on March 3.
PWSC, currently at $20.17, has traded in the range of $10.60-$26.05 in the last 1 year.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.