Why Sprouts Farmers Market (SFM) Stock Is Down Today

NEW YORK (TheStreet) -- Sprouts Farmers Market (SFM) is falling 0.9% to $30.04 Wednesday after pricing a public offering by certain shareholders.

Apollo Global Management and other shareholders will sell 15 million shares of the grocery store operator for $30 a share, Sprouts Farmers Market announced. Apollo will sell about 11 million shares in the offering, or 13 million if the underwriters fully exercise their option to buy up to 2.25 million additional shares.

Sprouts Farmers Market won’t receive any proceeds from the offering.

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SFM ChartSFM data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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