MeridianLink (MLNK) has released an update to notify the public and investors about a regulation fd disclosure.
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A company has announced a secondary offering of its common stock by existing shareholders, accompanied by preliminary unaudited operating results for the last quarter of 2023. These results indicate an estimated revenue increase, although net income is projected to decrease due to various factors, including a significant non-cash tax charge. Additionally, an upward trend in adjusted EBITDA is expected. The company has also started remediation efforts to address identified deficiencies in its internal financial reporting controls. Concurrently, the company is planning to repurchase up to $50 million of its common stock in connection with the offering and has authorized a broader stock repurchase program for up to $125 million of its common stock, signaling confidence in its financial prospects.
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For a comprehensive understanding of the announcement, you can read the full document here.
