LB - L brands prices secondary stock offering at $74.50

L Brands (LB) has priced its secondary offering of 20,041,646 shares of common stock by Leslie H. Wexner and certain affiliated selling stockholders at $74.50/share, for an aggregate purchase price of $1.49B.The company will not receive any proceeds from the offering.Closing date is July 19. Also, L Brands has agreed to repurchase 10M shares of its common stock directly from one of the Selling Stockholders at $73.01, for $730.1M. The Repurchase is part of the previous $1.5B share repurchase program. Following the offering and the repurchase, the Selling Stockholders will have disposed of all of their shares of L Brands’ common stock, other than 5M shares.

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L brands prices secondary stock offering at $74.50