First Advantage Co. (NYSE:FA) Shares Acquired by Dark Forest Capital Management LP

On August 17, 2021, First Advantage Co. (NYSE: FAAV) announced that it had entered into a definitive agreement to sell approximately 5.3 million shares of its common stock to Dark Forest Capital Management LP for $48.6 million in cash. The transaction is expected to close on or about August 27, 2021, subject to certain customary closing conditions.

First Advantage Co. is a leading provider of business process outsourcing (BPO) services, including accounts receivable management, accounts payable management, and customer service. The company operates in the United States and has a diverse client base across various industries, including healthcare, financial services, and retail.

Dark Forest Capital Management LP is a private equity firm that focuses on investing in companies in the technology, media, and telecommunications sectors. The firm was founded in 2013 and has offices in New York, London, and San Francisco.

The sale of shares by First Advantage Co. to Dark Forest Capital Management LP represents a strategic partnership between the two companies. The proceeds from the sale will be used by First Advantage Co. to invest in its business operations and growth initiatives.