First Advantage Announces Pricing of Upsized Initial Public Offering

June 22, 2021 9:00 PM EDT

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ATLANTA, June 22, 2021 (GLOBE NEWSWIRE) -- First Advantage Corporation (“First Advantage”), a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital, today announced the pricing of its upsized initial public offering of 25,500,000 shares of common stock at a price to the public of $15.00 per share. Of the offered shares, 19,875,000 shares are being sold by First Advantage, and 5,625,000 shares are being sold by certain existing stockholders of First Advantage. First Advantage and the selling stockholders granted the underwriters in the offering a 30-day option to purchase up to an additional 3,825,000 shares of common stock, of which up to 2,981,250 shares would be sold by First Advantage and up to 843,750 shares would be sold by certain existing stockholders of First Advantage.

The shares are expected to begin trading on the Nasdaq Global Select Market on June 23, 2021, under the symbol “FA.” The offering is expected to close on June 25, 2021, subject to customary closing conditions.

Barclays, BofA Securities and J.P. Morgan are acting as lead bookrunners for the offering. Citigroup, Evercore ISI, Jefferies, RBC Capital Markets, Stifel and HSBC are acting as bookrunners, and Citizens Capital Markets, KKR Capital Markets LLC, MUFG, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc. and Roberts & Ryan are acting as co-managers for the offering.

A registration statement on Form S-1 relating to the offering has been filed with and declared effective by the Securities and Exchange Commission (the “SEC”). Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

The offering is being made only by means of a prospectus. Copies of the prospectus related to the offering, when available, may be obtained from: Barclays Capital Inc., Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847, or by email at Barclaysprospectus@broadridge.com; BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina, 28255-0001, by email at dg.prospectus_requests@bofa.com; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at prospectuseq_fi@jpmorganchase.com.

Forward Looking Statements

This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include any statements regarding the commencement of trading of First Advantage’s common stock on the Nasdaq Global Select Market and the closing of the offering. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under “Risk Factors” under First Advantage’s registration statement relating to the offering. Except as required by law, First Advantage has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.

About First Advantage

First Advantage is a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital. The company delivers innovative solutions and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology platform, First Advantage’s products and solutions help companies protect their brands and provide safe environments for their customers and their most important resources: employees, contractors, contingent workers, tenants and drivers. Headquartered in Atlanta, Georgia, First Advantage has offices in North America, Europe, Asia and the Middle East.




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