Blue Bird Earlier Priced 4.5M Share Secondary Public Offering By Selling Shareholders @$20/Share
Portfolio Pulse from Charles Gross
Blue Bird Corporation (NASDAQ:BLBD) has priced a secondary public offering of 4.5 million shares at $20 per share by certain stockholders. The offering is expected to close on June 12, 2023, and the company will not receive any proceeds from the offering.
June 08, 2023 | 9:11 am
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Blue Bird's secondary public offering of 4.5 million shares at $20 per share may cause short-term downward pressure on the stock price.
The secondary public offering of 4.5 million shares at $20 per share may increase the supply of Blue Bird's stock in the market, which could lead to short-term downward pressure on the stock price. Additionally, the company will not receive any proceeds from the offering, which may be perceived negatively by investors.
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