stcks
Oct 22, 3:13 AM
$RCUS The deal: 14,285,715 shares at
$17.50, for
$250.0M gross.
That's the bottom of the range. Here's what it works out to, using the 127.0M shares outstanding:
New shares: The deal: 14,285,715 shares at
$17.50, for
$250.0M gross., or 11.2% more shares.
Cash: about
$944M after fees, up from
$694M.
Underwriters' option: they can buy up to 2,142,857 more shares within 30 days. Or 12.9% more shares
Closing: expected Oct 23.
Discount: 8.4% below today's
$19.10 That's a bit deeper than the 6.4% median in the deals like this.
Pricing at the low end hints that buyers had the leverage on this deal, and
$17.50 is right at the 52-week low of
$17.45.
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