Ooma drops further on secondary from top shareholder

|About: Ooma (OOMA)|By:, SA News Editor

Shares in Ooma (OOMA -8.2%) are another 1.1% lower after hours following news of a secondary offering where its top shareholder is unloading 2.861M shares.

Worldview Technology Partners will sell the shares between $8.75 and $9.00, Bloomberg reports. Ooma closed at $9 today.

The firm held a 19.1% stake in Ooma as of Jan. 19; the 2.861M shares make up more than 83% of its holdings of Ooma.

Underwriters have a 30-day option to buy up to an additional 429,193 shares from Worldview. The offering's expected to close next Wednesday.

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