Figs Prices Equity Offering By Selling Shareholders At Discount

Healthcare apparel brand Figs Inc FIGS has announced the pricing of a secondary offering of 8.917 million shares of Class A common stock by its largest stockholder Tulco, LLC, and certain members of the company's management team, at $40.25 per share.
The price represents a 1% discount to Figs' closing price of $40.66 on September 15, 2021.
The underwriters have a 30-day option to purchase an additional 1.3 million shares of Class A common stock from the selling stockholders.
Earlier, the selling stockholders planned to sell 8.8 million shares in the offering. The offering is expected to close on September 20, 2021.
Figs will not receive any proceeds from the sale of shares in the offering.
Price Action: FIGS shares are trading higher by 0.66% at $40.93 in premarket on the last check Thursday.

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