LB - L brands highlights secondary offering share repurchase plan

L Brands (LB) announces the commencement of an underwritten secondary offering of 20M shares.The company also said that it has agreed to repurchase an aggregate of 10M shares directly from one of the selling stockholders.L Brands said that it intends to fund the repurchase with cash on hand, and highlighted that it will not receive any proceeds from the sale of shares by the selling stockholders in the secondary offering.Shares down nearly 2% post market.Separately, L Brands provided quarter-to-date numbers and  increases guidance.

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L brands highlights secondary offering, share repurchase plan