NEW YORK (TheStreet) -- Shares of Freshpet (FRPT - Get Report) rose 1.16% to $21.72 in early morning trading Thursday after the company priced its secondary offering of common stock late Wednesday night.
The natural pet food company announced that it had priced 5,313,351 shares of its common stock by certain selling stockholders at $21.47 a share. The selling stockholders have also granted a 30-day option for underwriters to purchase up to an additional 797,002 shares.
The company expects the offering to close on May 5.
Freshpet priced its initial public offering of 10,416,667 shares on November 7 at $15 a share.
TheStreet's Jim Cramer had Freshpet CEO Richard Thompson on Mad Money on CNBC earlier this month, and here's what Cramer had to say about the stock on Thursday morning.
"This one's at a big discount, which either means they didn't have the demand or they are giving buyers a break that they didn't dream of," Cramer said. "It was a good quarter and I like in the hole pricing but it was very surprising given that the stock was at $24."FRPT data by YCharts