Sagent Pharmaceuticals slips on announcement of 4.4M share offering

|About: Sagent Pharmaceuticals (SGNT)|By:, SA News Editor

Sagent Pharmaceuticals (SGNT -9.2%) slides after announcing a 4.4M share offering.

The company will be offering 3,384,097 shares and other selling shareholders will sell 1,057,530 shares.

The underwriters will have a 30-day option to purchase up to an additional 666,244 shares as needed.

The company intends to use the net proceeds for general corporate purposes.