Why Tecnoglass (TGLS) Shares Are Sliding Today - Tecnoglass (NYSE:TGLS)

- Tecnoglass Inc TGLS has priced the previously announced underwritten public offering by Energy Holding Corporation of 2 million shares at $43 per share.
- The offer price represents an 8% discount to the company’s closing price on May 16, 2023.
- In addition, the Selling Stockholder has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares.
- Since all the shares to be sold in the proposed offering are being offered by the selling stockholder, the company will not receive any proceeds.
- Baird, Raymond James and Stifel are acting as lead joint book-running managers for the offering.
- Price Action: TGLS shares are trading lower by 8.30% at $42.88 on the last check Wednesday.