LFG - Archaea Energy slumps after hours on pricing 12.99M shares in secondary stock offering

Archaea Energy (NYSE:LFG) trades 6.04% down after hours after the firm has commenced an underwritten public offering of 12.99M shares of the company’s Class A common stock by an existing stockholder of the Company, Aria Renewable Energy Systems LLC. Underwriters over-allotment is an additional 1.95M shares of the Company’s Class A common stock. The offering consists entirely of shares of Class A common stock to be sold by the selling stockholder, and the company will not receive any proceeds from the sale of the shares being offered by the selling stockholder.

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Archaea Energy slumps after hours on pricing 12.99M shares in secondary stock offering