AMPS - Altus Power stock falls ~14% after hours on secondary public offering of class A shares
- Altus Power ( NYSE: AMPS ) on Wednesday announced a proposed secondary public offering of up to 7M of its class A shares by a selling shareholder affiliated with Blackstone ( BX ).
- Class A shares of the solar facilities operator fell 14.2% to $12.21 in aftermarket trading.
- In connection with the secondary offering, Blackstone ( BX ) is expected to grant the underwriters a 30-day option to purchase up to 1.05M additional class A shares on the same terms and conditions.
- "Altus Power will not receive any proceeds from the sale of shares of its Class A common stock by Blackstone," AMPS said in a statement .
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Altus Power stock falls ~14% after hours on secondary public offering of class A shares