PowerSchool Completes $182.7 Million Follow-On Offering

Technology & Services

PowerSchool follow-on offering


PowerSchool Holdings, Inc. (“PowerSchool”) (NYSE: PWSC) recently announced the pricing of an underwritten offering of 8,700,000 shares of its Class A common stock by certain selling stockholders associated with Onex Partners Manager LP (“Onex”) and Vista Equity Partners (“Vista”) as well as Hardeep Gulati (the “Selling Stockholders”) at a price to the public of $21.00 per share. The underwriters have a 30-day option to purchase up to an additional 1,305,000 shares of PowerSchool’s Class A common stock from the Selling Stockholders. PowerSchool will not receive any proceeds from the sale of shares.

Baird acted as a co-manager on this offering.


PowerSchool is the leading provider of cloud-based software for K-12 education in North America. Its mission is to power the education ecosystem with unified technology that helps educators and students realize their full potential, in their way. PowerSchool connects students, teachers, administrators, and parents, with the shared goal of improving student outcomes. PowerSchool supports over 50 million students globally and more than 15,000 customers, including over 90 of the top 100 districts by student enrollment in the United States, and sells solutions in over 90 countries. PowerSchool is headquartered in Folsom, California.

Onex, founded in 1984, manages and invests capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. In total, as of December 31, 2022, Onex has approximately $51 billion of assets under management, of which approximately $8 billion is its own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms. Onex is headquartered in Toronto, Canada.

Vista is a leading global investment firm with more than $95 billion in assets under management as of September 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit, and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista is headquartered in Austin, Texas.
Technology & Services

PowerSchool follow-on offering

March 2023
PowerSchool Holdings, Inc.
Equity Capital Markets
Technology & Services
Knowledge Solutions
Target Geography
North America