- Ecovyst ( NYSE: ECVT ) trades 15.8% down premarket after it upsized and priced its earlier announced underwritten public offering by funds affiliated with CCMP Capital Advisors.
- Offer size increased from earlier 12M shares to 13M shares t a price to the public of $8.75/share.
- Offering is expected to close on Aug. 8, 2022.
- Selling Stockholders have granted the underwriters a 30-day option to purchase up to 1.95M additional shares.
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Selling stockholders will receive all of the net proceeds from the offering.
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The company plans to repurchase from the underwriters 6.5M shares; repurchase to be funded with cash on hand and cash from operations.
For further details see:
Ecovyst prices upsized secondary offering of 13M shares by selling stockholders