NEW YORK (TheStreet) - Five Below (FIVE) shares fell 6.4% to $35.76 after it priced a secondary offering on Wednesday that could present selling shareholders as much as $216 million in proceeds if orders are met.
Five Below said it priced 6 million shares at $36 a share. The offering price is a 5.7% discount to Five Below's closing share price on Tuesday.
The pricing of the common stock offering comes six days after the discount accessories, toy and craft retailer, known for selling products at $5 and below, canceled the original secondary offering of 8.6 million shares, citing poor market conditions.
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