Here's Why Certara Stock Is Nosediving Friday

Certara Inc CERT shares are trading lower by 15.40% to $17.08 Friday morning after the company announced a secondary offering of 7 million shares of common stock.

What Else?

Certara says, in connection with the offering, the Selling Stockholders have granted the underwriter a 30-day option to purchase up to 1,050,000 additional shares. The company says no shares are being sold by Certara. The Selling Stockholders will receive all of the proceeds from this offering.

Certara says the closing of the offering is expected to occur on or about August 16th, subject to customary closing conditions.

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According to data from Benzinga Pro, Certara has a 52-week high of $45.48 and a 52-week low of $16.18.