First Advantage Announces Launch of Initial Public Offering

ATLANTA, June 14, 2021 (GLOBE NEWSWIRE) -- First Advantage Corporation, a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital, today announced the launch of the initial public offering of 21,250,000 shares of its common stock, of which 17,750,000 shares of common stock will be sold by First Advantage and 3,500,000 shares of common stock will be sold by certain existing stockholders of First Advantage. First Advantage and the selling stockholders expect to grant the underwriters in the offering a 30-day option to purchase up to an additional 3,187,500 shares of common stock, of which, up to 2,662,500 shares of common stock would be sold by First Advantage and up to 525,000 shares of common stock would be sold by certain existing stockholders of First Advantage. The estimated initial public offering price is between $13.00 and $15.00 per share. First Advantage has applied to list its shares on the Nasdaq Global Select Market under the symbol "FA".

Barclays, BofA Securities and J.P. Morgan will act as lead bookrunners for the proposed offering. Citigroup, Evercore ISI, Jefferies, RBC Capital Markets, Stifel and HSBC will act as bookrunners, and Citizens Capital Markets, KKR Capital Markets LLC, MUFG, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc. and Roberts & Ryan will act as co-managers for the proposed offering.

A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering can be obtained from: Barclays Capital Inc., Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847, or by email at [email protected]; BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina, 28255-0001, by email at [email protected]; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at [email protected].

Forward Looking Statements

This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include any statements regarding the commencement of trading of First Advantage's common stock on the Nasdaq Global Select Market. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under "Risk Factors" under First Advantage's registration statement relating to the offering. Except as required by law, First Advantage has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.

About First Advantage

First Advantage is a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital. The company delivers innovative solutions and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology platform, First Advantage's products and solutions help companies protect their brands and provide safe environments for their customers and their most important resources: employees, contractors, contingent workers, tenants and drivers. Headquartered in Atlanta, Georgia, First Advantage has offices in North America, Europe, Asia and the Middle East.