Access Industries Offloads Stake In Warner Music Via Equity Offering At 4.5% Discount

by Anusuya Lahiri, Benzinga Editor
January 4, 2022 7:59 AM | 1 min read |
  • Warner Music Group Corp WMG priced 8.6 million shares by Access Industries, LLC affiliates at $41 per share in a secondary public offering.
  • The offer price implies a 4.5% discount to Warner Music Group's January 3 closing price of $42.95.
  • The estimated gross proceeds are $351.1 million.
  • Warner Music Group is not selling any shares of common stock in the offering and will not receive any proceeds.
  • Price Action: WMG shares traded lower by 3.96% at $41.25 in the premarket session on the last check Tuesday.
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