Why TriNet (TNET) Stock Is Up Today

NEW YORK (TheStreet) -- TriNet (TNET) was gaining 5.5% to $27.12 Friday after pricing a public offering 12 million shares of common stock sold by certain shareholders.

The business services company priced the 12 million shares of common stock at $25.50 a share. The underwriters of the offering have a 30-day option to buy an additional 1.8 million shares of common stock from the selling shareholders.

All shares in the offering are offered by General Atlantic and its affiliates. TriNet will not receive any proceeds from the sale of common stock in the offering.

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TNET Chart TNET data by YCharts

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