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

June 3, 2021 6:57 AM | 1 min read | Make a Comment

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.