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MindBody expects to raise $120 million with stock offering

By   /   Tuesday, May 23rd, 2017  /   Comments Off on MindBody expects to raise $120 million with stock offering

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San Luis Obispo-based MindBody announced a follow-on stock offering May 22 that would raise around $120 million for the company.

The wellness-oriented software company plans to offer 4.4 million shares of Class A common stock, with options for underwriters to purchase an additional 660,000 shares.

MindBody’s share price fell 5 cents following the announcement, ending at $28.20. The stock remains up more than 30 percent year-to-date and is double its price a year ago. The company has a market capitalization of $1.12 billion.

J.P. Morgan Securities will lead the management of the offering, with UBS Securities, Jefferies and Credit Suisse Securities also acting as managers.

• Contact Marissa Nall at [email protected]

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