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ASO - Academy Sports & Outdoors readies secondary stock offering
Academy Sports and Outdoors Inc.
Academy Sports & Outdoors (ASO) dropped 2.9% in after hours trade after it announced that certain of its stockholders, including affiliates of Kohlberg Kravis Roberts, intend to offer for sale in an underwritten secondary offering 12M shares.Selling Stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 1.8M shares.Selling Stockholders will receive all of the proceeds from this offering.