Seeking Alpha

FireEye tumbles after pricing stock offering at $82

  • Ahead of its March 19 lockup expiration, FireEye (FEYE -9.7%) is offering 14M shares - 5.6M newly-issued shares, and 8.4M from existing shareholders - at a price of $82 (8% below yesterday's closing price). Underwriters have a sizable 2.1M-share overallotment option (all for new shares).
  • FireEye, which has forecast a $2.00-$2.20/share loss for 2014 due to massive sales investments, stands to reap gross proceeds of $458M from the offering. The new shares stand to increase FireEye's diluted count by 5%.
Comments (1)
  • MIchelChat
    , contributor
    Comments (6) | Send Message
     
    It's a shame to offer at 82$ while the market was at 85$-86$. The stock holders should offer their shares at the market price. Next time they should announce at least 1 month beforehand.
    7 Mar, 04:33 PM Reply Like
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