LXU - LSB Industries stock dips on secondary stock offering

• LSB Industries ( NYSE: LXU ) has announced a secondary offering of 13.5M shares of its common stock by selling stockholder (affiliates of Eldridge Industries).
• The selling stockholders plan to grant the underwriters a 30-day option to purchase up to an aggregate of 1.2M additional shares of the company's common stock. All of the net proceeds from this offering will go to the sellers.
• Subject to the completion of the offering, LSB Industries ( LXU ) plans to repurchase from the underwriters 5.5M shares of the common stock being sold in the offering at a price equal to the price per share paid by the underwriters to the sellers in the offering.
• The repurchases will be funded with cash on hand.
• LXU shares have dropped over 4% pre-market in response to the offering

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