** Wealth management firm LPL Financial's LPLA.O shares fall 1.5% to $322.36 in premarket trading after follow-on offering priced
** LPLA late Monday sold ~4.69 million shares at $320 apiece in its stock offering to raise $1.5 billion
** Offering priced at a 2.2% discount to stock's last close
** LPLA stock closed down 2.9% at $327.14 on Monday after the firm unveiled the stock offering
** Morgan Stanley was the sole active book-running manager for the offering
** LPLA will use proceeds to fund a portion of its $2.7 billion acquisition of rival Commonwealth Financial Network announced on Monday
** 15 of 17 brokerages rate the stock "buy" or higher, 1"hold" and 1 "sell"; median PT $415.50 - data compiled by LSEG
** As of last close, LPLA stock flat YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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