Celsius Holdings Inc. shares were down 14% to $62.55 Thursday after the company said it priced a public offering of 6.5 million common shares at $62.50 each.
The fitness-drink maker said 5.5 million shares will be offered by certain selling stockholders, and 1 million shares will be offered by Celsius.
Celsius and certain selling stockholders have granted the underwriters a 30-day option to purchase up to 978,000 additional shares, it said.
The company said that it won’t receive any proceeds from the sale of the shares by the selling stockholders, and that it intends to use its proceeds from the offering for general corporate purposes.
The offering is expected to close Monday, Celsius said.
Volume for the stock was 5 million shares at 1:05 p.m. ET, compared with a 65-day average volume of 1.3 million shares. The stock hit a 52-week high of $83 on Tuesday.