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Blue Buffalo Pet Products (BUFF) Announces Pricing Of Secondary Offering
Blue Buffalo Pet Products Inc. (BUFF - Free Report) announced today the pricing of a secondary offering of its common stock, as existing shareholders are looking to sell 15 million shares of common stock. The underwriters of the offering will have a 30-day option to purchase up to an additional 2.25 million shares of common stock.
The price of the offering is $22 per share, and it is expected to close next week on July 5th. Joint book-running managers for the offering include JPMorgan (JPM - Free Report) , Citigroup (C - Free Report) , Barclays Inc (BCS - Free Report) , Deutsche Bank (DB - Free Report) , and Morgan Stanley (MS - Free Report) .
Blue Buffalo is up nearly 26% year-to-date, and was up over 1% Wednesday after news of the pricing was released. BUFF is currently a Zacks Rank #2 (Buy) stock, with an A for its Growth Style Score, and a B for its Momentum Score.It will be interesting to see if next week’s closure of the deal will have any effect on the stock moving forward.
BLUE BUFFALO Price
BLUE BUFFALO Price | BLUE BUFFALO Quote
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