LPL Financial Holdings Inc. (LPLA) announced the pricing of an underwritten public offering of about 4.69 million shares of its common stock at a price to the public of $320.00 per share.
LPL also granted the underwriters a 30-day option to purchase up to an additional 703,125 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on April 2, 2025.
The company noted that it plans to use the net proceeds of this offering to fund a portion of the cash consideration payable in connection with its previously announced proposed acquisition of Commonwealth Financial Network and, to the extent that any proceeds remain thereafter, or if the Transaction is not completed, for general corporate purposes.
In addition to the net proceeds from this offering, LPL expects to use available cash and other borrowings to fund the purchase price for the Transaction.
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