Form 4: Great Hill Equity Partners IV LP Sells 7 Million Shares of Intapp Inc. (INTA)

Great Hill Equity Partners IV LP reports the sale of 7,000,000 shares of Intapp, Inc. common stock at a price of $36.27 per share on March 7, 2024.

Summary

• Great Hill Equity Partners IV LP sold 7,000,000 shares of Intapp, Inc. (INTA) common stock on March 7, 2024.
• The sale price was $36.27 per share.
• Following the transaction, Great Hill Equity Partners IV LP beneficially owns 6,738,269 shares indirectly.
• The shares are held through various entities including Great Hill Equity Partners IV, LP (GHEP IV), Great Hill Investors, LLC (GHI LLC), Christopher Gaffney, and Derek Schoettle.
• GHP IV, LLC is the general partner of Great Hill Partners GP IV, L.P., which is the general partner of GHEP IV.
• Voting and investment decisions are made by the Managers of GHP IV and GHI LLC.

Sentiment

Score: 4

Explanation: The sentiment is neutral to slightly negative. While the transaction itself is a standard practice for private equity firms, the sale of a significant number of shares could be perceived negatively by the market.

Negatives

• Great Hill Equity Partners IV LP, a significant shareholder, has reduced its stake in Intapp, Inc. by selling 7,000,000 shares.

Risks

• The sale of a large block of shares by a major shareholder like Great Hill Equity Partners IV LP could create downward pressure on Intapp's stock price.
• The market may interpret the sale as a lack of confidence in Intapp's future prospects.

Industry Context

Private equity firms like Great Hill Partners often sell their holdings in portfolio companies after a period of growth or following an IPO. This is a common practice to realize returns on their investment.

Comparison to Industry Standards

• It's common for major shareholders, especially private equity firms, to reduce their stakes after a company goes public.
• The impact of such sales on the stock price depends on various factors, including the size of the sale, market conditions, and investor sentiment.
• Comparable transactions would include other instances where large shareholders in newly public companies have reduced their positions.

Stakeholder Impact

• Shareholders may experience short-term price volatility due to the large sale.
• Employees may be concerned about the long-term implications of a major shareholder reducing their stake.
• The company's relationship with Great Hill Equity Partners may evolve as their ownership decreases.

Key Dates