NEW YORK (TheStreet) -- Santander Consumer USA (SC) 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) 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.SC data by YCharts
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.