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BrightView Holdings , Inc. (NYSE:BV) finalized an underwritten offering of 11.6 million shares of its common stock. The transaction, which concluded today, involved an agreement with KKR BrightView Aggregator L.P. as the selling stockholder and several underwriters, including KKR Capital Markets LLC, Craig-Hallum Capital Group LLC, BTIG, LLC, Morgan Stanley (NYSE:MS) & Co. LLC, and Loop Capital Markets LLC.
The shares were sold at a price of $14.40 per share. Notably, BrightView did not receive any proceeds from this offering, as the shares were sold by the selling stockholder. The agreement is part of BrightView’s Registration Statement on Form S-3, filed on June 4, 2025. With analysts setting a high target of $24.00 and forecasting profitability this year, InvestingPro analysis suggests the company is currently undervalued. Access the full BrightView research report and 12 additional ProTips with an InvestingPro subscription.
This information is based on a recent SEC filing by BrightView Holdings. The company, with a market capitalization of $1.58 billion and a "Fair" overall financial health score, maintains a solid current ratio of 1.42.
In other recent news, BrightView Holdings reported robust financial results for the second quarter of fiscal year 2025, surpassing both earnings and revenue expectations. The company achieved earnings per share of $0.14, exceeding the forecast of $0.11, and reported revenues of $662.6 million, which were above the anticipated $645.92 million. BrightView also raised its full-year adjusted EBITDA guidance to $355 million, reflecting strong future performance expectations. Additionally, BrightView announced an upsized secondary offering of 11.6 million shares of common stock by an affiliate of KKR & Co. Inc., with all proceeds going to the selling stockholder. This offering is managed by a syndicate of financial firms, including KKR Capital Markets and Morgan Stanley. Furthermore, BrightView has been actively managing its capital allocation, launching a $100 million share repurchase program, and continuing its fleet refresh strategy. These recent developments highlight BrightView’s strategic initiatives and financial strength, positioning the company for sustained growth.
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