BUZZ-Pattern Group edges up after Knox Lane's $152 mln stake sale

Pattern Group, Inc. Class A
Jpmorgan Chase

Pattern Group, Inc. Class A

PTRN

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Jpmorgan Chase

JPM

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** E-commerce accelerator Pattern Group's PTRN.O shares up 0.6% to $19.29 before the bell on Weds after $152 mln secondary offering priced

** Lehi, Utah-based PTRN announced 8 mln shares sold by Knox Lane at $19

** PTRN's stock closed at $20.96 on Fri, just prior to offering launch early Mon

** Sale takes investment firm Knox Lane's stake from 18.2% to 13%, per the prospectus

** JP Morgan and Goldman Sachs lead bookrunners for offering

** Knox Lane did not sell any shares in PTRN's Sept IPO, which priced at $14

** PTRN's stock has rallied sharply since hitting record intraday low of $8.92 on Feb 24 amid a selloff in the software sector


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