MamaMancini's Holdings, Inc. MMMB has priced the underwritten public secondary offering of 6.3 million shares by certain selling shareholders affiliated with Carl T. Wolf at $2.50 per share.
The offer price represents an 18.6% discount to the company's closing price on June 21.
In addition, the selling stockholders have granted the underwriters of the offering a 30-day option to purchase up to 942,163 additional shares at the public offering price.
MamaMancini's is not selling any shares in the offering, nor will it receive any of the proceeds.
The offering is expected to close on or about June 26, 2023.
Price Action: MMMB shares are trading lower by 10.2% at $2.75 on the last check Thursday.
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