Why CDW Corp (CDW) Stock Is Lower Today

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.

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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. 

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