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.

Must Read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TNET Chart TNET data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.

If you liked this article you might like

Atairos Strikes Cereberus' Bowlmor Investment

Atairos Strikes Cereberus' Bowlmor Investment

Analysts' Actions -- Tableau, Garmin, Pioneer, Shire and More

Analysts' Actions -- Tableau, Garmin, Pioneer, Shire and More

Strong On High Relative Volume: Trinet Group (TNET)

Strong On High Relative Volume: Trinet Group (TNET)