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Intuit Prices Secondary Offering of 1.55 Million Shares

4:07AM ET 11/30/2021 MT Newswires
Intuit (INTU) on Monday said that it priced an underwritten secondary offering of 1.55 million shares held by certain entities affiliated with Mailchimp co-founder Dan Kurzius for $668.95 per share.

The share count is about 15.3% of shares issued by the company as partial consideration for the acquisition of the Rocket Science Group, Intuit said, adding that the shares are being sold in order to satisfy certain tax obligations and for estate planning purposes.

Intuit also said that the shares are expected to be delivered on or before Dec. 1. It will also not sell any shares and will not receive any proceeds from the offering.