ads

CDW Drops Pre-Market as Offering of 15 Mln Shares Prices at 4.4% Discount to Wednesdays Close

CDW Drops Pre-Market as Offering of 15 Mln Shares Prices at 4.4% Discount to Wednesdays Close

CDW (CDW) shares fell in Thursday's pre-market session, after the technology-services provider said a public offering of 15 million shares held by selling stockholders priced at $28.35 per share, a 4.4% discount to the stock's Wednesday closing price.The shares fell below the offer price in recent pre-market trading, down 5.4% at $28.05.

They have a 52-week range of $17.38 to $30.42. The company said the underwriter has a 30-day option to purchase up to an additional nearly 2.3 million shares of common stock from the selling stockholders at the public offering price, less underwriting discounts. The company won't receive any proceeds from the sale, which is expected to close May 28.

CDW Drops Pre-Market as Offering of 15 Mln Shares Prices at 4.4% Discount to Wednesdays Close