Under Armour Prices Secondary

Under Armour(UARM Quote - Cramer on UARM - Stock Picks) priced a 7.3 million-share secondary offering at a slight discount to the market price. The shares rose early Friday.

The sports-apparel maker priced the deal at $34 after its stock ended regular trading Thursday at $34.18. In premarket trading Friday, Under Armour was up 42 cents, or 1.3%, to $34.60.

The stock remains down from its high of $41.90, reached just prior to a Feb. 7 profit estimate that trailed Street forecasts.

All the shares were sold by stockholders, including Rosewood Capital, a venture investor and one of the company's key early backers. Under Armour received none of the proceeds.

Goldman Sachs was the lead underwriter and retains an option to purchase another 1.1 million shares to cover over-allotments.