NEW YORK (TheStreet) -- Santander Consumer USA
(SC - Get Report) shares are down -2.7% to $18.83 on Wednesday after pricing the secondary public offering of 10,047,954 shares of its common stock by Sponsor Auto at a price of $18.68 cents per share.
JPMorgan (JPM - Get Report) is acting as the sole bookrunner for the offering while investment vehicle Sponsor Auto will receive all of the proceeds from the offering. It's expected to close on September 8.
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