BUZZ-First Advantage shares fall as Silver Lake Capital sells $327 million worth of shares

November 10 - ** Shares of employment background check company First Advantage (FA.O) fell 9.3% in premarket trading on Tuesday to $21.33, after the company announced the pricing of a $327 million secondary offering.

** First Advantage (link) announced that a Silver Lake investment fund would sell 15 million shares at $21.80 each, a 7.3% discount to the closing price of the previous trading day.

** According to data from the London Stock Exchange Group (LSEG), prior to this placement, private equity firm Silver Lake held about 73.5 million shares; this is equivalent to 43% of FA's approximately 171.97 million outstanding shares.

** Barclays and JPMorgan served as underwriters for the sale.

** In August (link), Silver Lake reduced its stake in the Georgia-based company through a secondary sale priced at $22.20 per share.

** As of Monday, FA shares had risen 62% year-to-date, including a gain of about 24% in the past month.

** LSEG data shows that the average rating from 11 analysts is "Buy"; the median target price is $26.50.

(To facilitate non-English speakers, Reuters provides automated translations of its reports into several other languages. As automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of the automated translation. The automated translation is provided solely for the convenience of readers. Reuters assumes no responsibility for any damage or loss resulting from the use of automated translation.)