NEW YORK (TheStreet) -- Aramark (ARMK) shares closed trading down 1.02% to $28.27 in trading on Friday, and are continuing to fall 0.11% to $28.24 in after-hours trading, after the food, facilities and uniform services provider announced the pricing of a secondary offering of 30 million shares at a price of $28 per share.
Additionally the company authorized the sale of 4.5 million shares to the underwriters of the sale.
The stockholders selling their shares will receive all of the proceeds of the offering as Aramark is not offering any shares itself. The offering is scheduled to be settled on December 17.
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