- Tesco (NASDAQ:TESO) announced that it has priced secondary public offering of 7M common shares of $7 per share. The Company has granted the underwriter a 30-day option to purchase up to an additional 1.05M common shares at the offering price (less the underwriting discounts).
- The sale is expected to close by June 14, 2016, subject to customary closing conditions.
- The Company intends to use the net proceeds for general corporate purposes, working capital, capital expenditures, acquisitions or other initiatives.
- BofA Merrill Lynch is the sole book-running manager
- Shares -7.1% PM