Platform Specialty Products (PAH) Stock Lower Today After Pricing of Common Stock Offering

NEW YORK (TheStreet) -- Shares of Platform Specialty Products Corp. (PAH) are down 0.8% to $24.81 today on heavy trading volume as 4.53 million shares exchanged hands, compared to the daily average of 594,330, after the chemicals company announced the pricing of an underwritten public offering of 14,300,000 shares of its common stock at $24.50 per share.

The gross proceeds to Platform from this offering are expected to be approximately $350 million, the company said.

Platform intends to use the net proceeds from the offering for general corporate purposes and to fund a portion of the acquisition of Arysta LifeScience Limited, a global provider of insecticides, fungicides, herbicides, biostimulants and value-added nutrients.

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PAH Chart PAH data by YCharts

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