Jeld-Wen To Buyback $200M Of Stock In Secondary Offering Of ~14.8M Shares By Onex

Jeld-Wen Holding Inc JELD announced the launch of a secondary offering of 14.88 million shares by Onex Corp ONEXF and certain investment funds managed by Onex Partners Manager LP and its affiliates.
Jeld-Wen is not selling any shares in this offering and will not receive any proceeds from the sale.
The company intends to repurchase $200 million of its stock in the 14.88 million shares that are the subject of the offering.
The price per share to be paid by Jeld-Wen will equal the price at which the underwriter will purchase the shares from the selling shareholders in the offering.
Price Action: JELD shares are trading lower by 4.35% at $28.12 during the premarket session on Monday.