Paycor announces IPO at $23/share

CINCINNATI: Paycor HCM Inc. announced the pricing of its initial public offering of 18.5 million shares of its common stock at a price to the public of $23 per share. Paycor creates Human Capital Management (HCM) software.

The shares are expected to begin trading on the Nasdaq Global Select Market (Nasdaq) under the ticker symbol “PYCR” on July 21, 2021, and the offering is expected to close on July 23, 2021, subject to customary closing conditions.

In addition, Paycor has granted the underwriters a 30-day option to purchase up to an additional 2.775 million shares of common stock at the initial public offering price less underwriting discounts and commissions.

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.

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