LXU - LSB Industries stockholder to sell 14.35M shares
- LSB Industries ( NYSE: LXU ) said an affiliate of its stockholder Eldridge Industries intends to sell an aggregate of 14.35M shares.
- The shareholder intends to grant a 30-day option to the underwriters to purchase up to an aggregate of 1.63M additional shares.
- The net proceeds will go to the seller.
- Also, the company intends to repurchase from the underwriters 3.5M shares at the purchase price paid by the underwriters, with cash on hand.
- The share repurchase closing is expected to occur simultaneously with the closing of the offering.
- LXU shares were trading -3.56% pre-market.
- Source: Press Release
For further details see:
LSB Industries stockholder to sell 14.35M shares