Cambium Networks Prices Secondary Equity Offering by Selling Stakeholder at 16.5% Discount

  • Wireless networking infrastructure provider Cambium Networks Corp’s CMBM priced 2 million shares in a secondary public offering at $48 per share. 
  • The offering is from the selling shareholders, Vector Cambium Holdings (Cayman), L.P., for $96 million. 
  • The offer price signifies a 16.5% discount to Tuesday’s closing price of $57.50.
  • As per the last 13D Sec filing, Vector Cambium Holdings (Cayman), L.P. owned 14.9 million shares.
  • The underwriters have a 30-day option to purchase up to an additional 0.3 million shares.
  • Cambium is not selling any shares and will not receive any offering proceeds.
  • Price action: CMBM shares are lower by 0.72% at $48.56 in the premarket session on the last check Thursday.
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