Manchester United Selling Shareholders To Offload Stake Via Equity Offering

Manchester United PLC MANU reported an offering of 9.5 million shares by selling shareholders Kevin Glazer Irrevocable Exempt Family Trust and Edward S. Glazer Irrevocable Exempt Trust in a secondary equity offering.
The offering is worth $186.39 million based on Manchester United's October 5 closing price of $19.62.
Manchester United will not receive any proceeds from the offering that will likely close on October 8.
The stock has gained 17.2% year-to-date.
Price Action: MANU shares closed lower by 0.25% at $19.62 on Tuesday.