The State College, Pa.-based company priced its initial public offering of 30.3 million shares at $27 a share, the low end of the expected range of $27 to $30. The company offered 21.5 million shares, while selling stockholders offered 8.8 million shares. The selling stockholders included a 30-day option for underwriters to purchase up to an additional 4.545 million shares.
Eclipse expects the offering to close on June 25.
The stock opened at $27 on Friday and hit a low of $26 as of $10.43 a.m., by which point more than 16.7 million shares had changed hands.