Before closing the offering, Ziff Davis plans to exchange the Consensus Cloud shares to be sold in the offering for its own debt and then sell the shares to the underwriters.
The shareholder will also offer to exchange up to 300,000 additional Consensus Cloud shares for its debt, and the selling stockholders will grant the underwriters an overallotment option for up to such shares.
Consensus Cloud shares were down 4% in after-hours trading.
Price: 47.15, Change: -1.94, Percent Change: -3.95
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