Paycor Announces Launch of Initial Public Offering
Paycor HCM has announced its initial public offering (IPO) of 18,500,000 shares of common stock, with a price range set between $18.00 and $21.00 per share. The IPO includes a potential 30-day option for underwriters to purchase an additional 2,775,000 shares. Paycor aims to list its shares on the Nasdaq under the ticker symbol 'PYCR.' Leading the offering are Goldman Sachs and J.P. Morgan, with various other firms participating. The registration statement for the IPO has been filed but is not yet effective.
- IPO of 18,500,000 shares could enhance capital for business growth.
- Potential to raise up to approximately $392 million based on maximum price.
- Listing on Nasdaq may increase visibility and credibility.
- Shares may experience price volatility during and after the IPO.
- Potential dilution of existing shares if underwriters exercise their option.
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CINCINNATI, July 12, 2021 (GLOBE NEWSWIRE) -- Paycor HCM, Inc. (Paycor) today announced the launch of its initial public offering of 18,500,000 shares of its common stock. Paycor also intends to grant the underwriters a 30-day option to purchase up to an additional 2,775,000 shares of Paycor’s common stock. The initial public offering price is currently expected to be between
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as lead bookrunning managers for the offering. Jefferies LLC, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are also acting as book-running managers for the offering. Robert W. Baird & Co. Incorporated, Cowen and Company, LLC, JMP Securities, LLC, Needham & Company, LLC, Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated and Truist Securities, Inc. are acting as book-running managers for the offering. Fifth Third Securities, Inc. and Roberts & Ryan Investments, Inc. are acting as co-managers for the offering.
The offering of these securities will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering 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; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866- 803-9204 or email at Prospectus-eq_fi@jpmchase.com.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy them be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Paycor
Paycor creates Human Capital Management (HCM) software for leaders who want to make a difference. Our HCM platform modernizes every aspect of people management, from the way you recruit, onboard and develop people, to the way you pay and retain them. But what really sets us apart is our focus on business leaders. For 30 years, we’ve been listening to and partnering with leaders, so we know what they need: HR technology that saves time, powerful analytics that provide actionable insights and dedicated support from HR experts. That’s why more than 40,000 medium & small businesses trust Paycor to help them solve problems and achieve their goals.
For More Information:
Media Relations:
Katy Bunn
(513) 338-2398
pr@paycor.com
Investor Relations:
Brian Denyeau
ICR, LLC
(646) 277-1251
ir@paycor.com
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