NEW YORK (TheStreet) -- Shares of VWR Corp. (VWR) were falling 4.6% to $25.94 on heavy trading volume Thursday after the research laboratory product company announced the price of the public offering of 16 million shares sold by Varietal Distribution Holdings.
VWR priced the 16 million shares in the public offering at $26.25 a share. The company granted the underwriters of the offering a 30-day option to buy up to an additional 2.4 million shares.
The offering is expected to close on June 9, 2015 and VWR will not receive any proceeds from the offering as it is not selling any shares.
About 3.4 million shares a day of VWR were traded by 10:24 a.m. Thursday following the pricing announcement, well above the company's average trading volume of about 394,000 shares a day.