CFX - Colfax shares slips on equity raise

Colfax (CFX) -3.3% premarket after pricing public offering of 14M common shares at $46/share.Underwriters' over-allotment is an additional 2.1M shares.Offering is expected to close on March 19.Net proceeds will be ~$618.4M, or $711.3M f the underwriters exercise their option.Proceeds will be used for working capital and other general corporate purposes, which may include capital expenditures and and the repayment of indebtedness.Last week, the company announced its plan to split into two independent companies, a specialty medical technology firm and a fabrication technology firm.

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Colfax shares slips on equity raise