ASO - Academy Sports and Outdoors launches 14M secondary stock offering

Academy Sports and Outdoors (ASO) trades 2.2% down after hours on announcing that certain of its stockholders plan to offer for sale in an underwritten secondary offering 14M shares.Selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 2.1M shares.The company plans to repurchase from the underwriters, out of the 14M shares a number of shares having total purchase price of up to $100M at a price per share equal to the price at which the underwriters will purchase the shares from the selling stockholders.

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Academy Sports and Outdoors launches 14M secondary stock offering