Deal Details

Paycor Completes $384 Million Follow-On Offering

Technology & Services

Paycor follow-on offering

Summary

Paycor, Inc. (“Paycor” or the “Company”) (NASDAQ: PYCR), a portfolio company of Apax Partners (“Apax”), recently completed a follow-on offering of 12,000,000 shares of common stock at a price of $32.00 per share generating gross proceeds of $384.0 million. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock. The selling shareholder, Apax, will receive all of the net proceeds from the offering.

Baird served as a passive bookrunner on this offering.

About

Paycor is a leading Software-as-a-Service provider of human capital management solutions for small and medium-sized businesses. Paycor’s unified, cloud-native platform is built to empower business leaders by producing actionable, real-time insights to drive workforce optimization. The Company has a comprehensive suite of solutions enabling organizations to streamline human capital management (“HCM”) and payroll workflows and achieve regulatory compliance while serving as the single, secure system of record for all employee data. Paycor’s highly flexible, scalable, and extensible platform offers award-winning ease-of-use with an intuitive user experience and deep third-party integrations, all augmented by industry-specific domain expertise. Over 28,000 customers across all 50 states trust Paycor to help their leaders develop winning teams. The Company is headquartered in Cincinnati, Ohio.

Apax is a leading global private equity advisory firm. For more than four decades, Apax has built specialist expertise across four industry sectors: Tech, Services, Healthcare, and eConsumer. To date, Apax Partners has raised and advised funds with aggregate commitments of more than $60 billion. Apax is headquartered in London, the United Kingdom.

Technology & Services

Paycor follow-on offering