NEW YORK (TheStreet) -- CDW Corp (CDW) stock is falling Thursday after announcing and pricing a public offering of 15 million shares of common stock held by selling stockholders at a price to the public of $28.35 a share.
By midmorning, shares had tumbled 5.8% to $27.88.
Additionally, underwriters have been given a 30-day option to purchase up to an additional 2.25 million shares at the public offering price.CDW Corp will not receive any proceeds from the sale. The offering is expected to close May 28, subject to customary closing conditions. Barclays Capital will act as sole underwriter for the offering. Must Read: Warren Buffett's 25 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV