CREE - Cree readies stock offering shares down 6%

Cree (CREE) drops 6% premarket after filing a prospectus for unspecified common stock offering.The filing does not necessarily indicate that a sale has begun, or will occur in the future.Also, the company inks distribution agreement with some of the Fund Managers for the sale of up to $500M of shares of common stock.Manager will earn a 2% commission for its efforts.

For further details see:

Cree readies stock offering, shares down 6%