FX.co ★ TPG' Shareholders To Offer About 15.5 Mln Shares Via Secondary Stock Offering

TPG Inc. declared on Monday that some of its shareholders are intending to offer 15,526,915 units of TPG's Class A common stock. The shares, which have a par value of $0.001 each, are being presented under a shelf registration statement that has been filed with the Securities and Exchange Commission (SEC).

The offering solely includes secondary shares that will be sold by said shareholders, who will in turn, receive all proceeds from the sale. TPG Inc. clarified that it will not be partaking in sales of these common stocks in this offering, hence won't be generating any revenue from it.

The underwriting for this offering will be handled by J.P. Morgan and Morgan Stanley.