LSB Industries stock dips on secondary stock offering

Aug. 10, 2022 9:14 AM ETLSB Industries, Inc. (LXU)By: Preeti Singh, SA News Editor27 Comments
  • LSB Industries (NYSE:LXU) has announced a secondary offering of 13.5M shares of its common stock by selling stockholder (affiliates of Eldridge Industries).
  • The selling stockholders plan to grant the underwriters a 30-day option to purchase up to an aggregate of 1.2M additional shares of the company's common stock. All of the net proceeds from this offering will go to the sellers.
  • Subject to the completion of the offering, LSB Industries (LXU) plans to repurchase from the underwriters 5.5M shares of the common stock being sold in the offering at a price equal to the price per share paid by the underwriters to the sellers in the offering.
  • The repurchases will be funded with cash on hand.
  • LXU shares have dropped over 4% pre-market in response to the offering

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