Ping Identity to repay term loan borrowings with stock proceeds

By Sarah Lizee

Olympia, Wash., Sept. 20 – Ping Identity Corp. plans to repay outstanding borrowings under its term loan facility using proceeds from an offering of common stock, according to an 8-K filing with the Securities and Exchange Commission.

The company plans to use about $169.4 million of the net proceeds from the offering for the paydown.

As of June 30, there was $247.5 million outstanding under the term loan.

Ping Identity is a Denver-based provider of enterprise grade identity & access management solutions across hybrid IT deployments.

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