U.S. Silica in 10.5M-share offering by selling shareholder

U.S. Silica (SLCA) -3.8% AH after announcing a 10.5M-share offering by selling stockholder GGC USS Holdings, an affiliate of Golden Gate Capital; SLCA will receive no proceeds from the offering.

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Comments (3)
  • Jake37
    , contributor
    Comments (25) | Send Message
    good! will present a buy opportunity!
    7 Nov 2013, 05:48 PM Reply Like
  • rejiii
    , contributor
    Comments (40) | Send Message
    I couldn't agree more. A welcome pause on the way up. Where else are you going to find a growth stock with 1+% secure dividend?
    7 Nov 2013, 06:14 PM Reply Like
  • sophocles
    , contributor
    Comments (236) | Send Message
    GGC had 41m shares, now about 17m. So they sold 24m so far this year. The stock has appreciated 95.70 YTD. The stock was heavily shorted in anticipation of this sale, so shorts can gracefully exit without being squeezed too hard. Morgan-Stanley will handle the secondary. It was the Morgan-Stanley analyst who raised the target to $36 in August, called it their best onshore energy idea for 2014 and said it could hit $58 under certain scenarios.
    7 Nov 2013, 06:52 PM Reply Like
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