Thinkific Completes C$14.5 Million Secondary Offering of Rhino Group Shares

Thinkific Labs ( (TSE:THNC) ) just unveiled an update.

Thinkific Labs Inc. announced the closing of a secondary offering of approximately C$14.5 million of common shares held by the Rhino Group. The transaction involved the sale of 6,444,445 shares, representing about 9.47% of Thinkific’s outstanding shares, reducing Rhino Group’s stake from 23.92% to 14.45%. The net proceeds were directed to the Rhino Group, with no financial gain for Thinkific. The offering was conducted via a prospectus supplement and private placement, with lock-up agreements in place for the Rhino Group and key stakeholders, potentially stabilizing the company’s share price and market position.

The most recent analyst rating on (TSE:THNC) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Thinkific Labs stock, see the TSE:THNC Stock Forecast page.

Spark’s Take on TSE:THNC Stock

According to Spark, TipRanks’ AI Analyst, TSE:THNC is a Neutral.

Thinkific Labs’ strong revenue growth and positive cash flow developments are overshadowed by persistent profitability challenges. Technical indicators suggest lack of momentum, and a high P/E ratio raises valuation concerns. However, recent corporate achievements highlight the company’s positive market positioning.

To see Spark’s full report on TSE:THNC stock, click here.

More about Thinkific Labs

Thinkific Labs Inc. is a leading cloud-based software platform that enables entrepreneurs and businesses of all sizes to create, market, and sell digital learning products. The platform supports over 35,000 customers, including notable companies like GoDaddy and Nasdaq, and has impacted more than 200 million people worldwide by facilitating the generation of billions in revenue.

Average Trading Volume: 15,638

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$150.9M

For an in-depth examination of THNC stock, go to TipRanks’ Overview page.