Arhaus Announces Pricing of 12M Secondary Offering of Class A Common Stock At $10.00 Per Share by Selling Stockholders
Portfolio Pulse from Benzinga Newsdesk
Arhaus, Inc. (NASDAQ:ARHS) has announced the pricing of a secondary public offering of 12 million shares of Class A common stock by selling stockholders affiliated with Freeman Spogli & Co. The shares are priced at $10.00 each. The selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1.8 million shares at the public offering price, less the underwriting discount. The offering is expected to close on August 21, 2023.
August 17, 2023 | 7:44 am
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Arhaus, Inc. is conducting a secondary public offering of 12 million shares of Class A common stock at $10.00 per share. The company is not selling any shares and will not receive any proceeds from the offering.
The secondary public offering will increase the number of Arhaus, Inc.'s shares in circulation, which could potentially dilute the value of existing shares. However, as the company is not selling any shares and will not receive any proceeds from the offering, the direct financial impact on the company is neutral. The impact on the stock price will depend on the market's reaction to the increased share supply.
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