Blue Bird Corporation (NASDAQ:BLBD) swung lower in after-hours trading on Monday after revealing that affiliates of Coliseum Capital Management and American Securities plan to use 5M shares of the bus producer’s typical stock. There are simply over 32M shares impressive on Blue Bird (BLBD).
The offering investors plan to approve the underwriters a 30-day alternative to buy as much as an extra 750K shares of BLBD stock at the general public offering cost, less underwriting discount rates and commissions. The offering consists totally of secondary shares to be offered by the selling investors, who will receive all of the earnings from the offering. Blue Bird is not offering any shares in the offering and the variety of overall shares released will be untouched.
The offering is being made pursuant to an efficient rack registration declaration submitted by Blue Bird with the SEC on December 21, 2021.
Shares of Blue Bird (BLBD) fell 8.31% in after-hours trading to $23.05 vs. the 52-week variety of $7.14 to $28.80.