Ecovyst Inc. shares fell 11% to $9.47 after the company said it priced a previously announced offering of 8 million shares by certain stockholders at $9.50 a share.
The offering is expected to close Tuesday.
The selling stockholders have granted the underwriters a 30-day option to purchase up to 1.2 million additional shares at the public offering price less underwriting discounts and commissions.
The selling stockholders will receive all of the proceeds from the offering. No shares are being sold by Ecovyst.
Volume for the stock was 1.5 million shares at 10:20 a.m. ET, compared to its 65-day average volume of 258,000 shares. The stock hit its 52-week low of $9.12 earlier in the session.
