Shares of Commscope Holding Company Inc COMM were trading lower by more than 5 percent Tuesday morning after the company announced that a major shareholder, an affiliate of the Carlyle Group, priced the sale of 20 million shares of its common stock.
The stock offering is being priced at $29.10 per share, a discount to Monday's closing price of $30.34.
Following the sale, Carlyle and its affiliates will own approximately 41.22 million shares, or approximately 21 percent of the entire company.
CommsSope Holding won't receive any of the proceeds from Carlyle's offering.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.