Why Camping World Holdings (CWH) Stock Is Down 11% Today

Camping World Holdings Inc CWH shares are trading lower by 10.9% to $20.25 Thursday afternoon after the company launched a $300 million stock offering of 14.6 million shares at $20.50 per unit.

What To Know: Camping World Holdings announced a proposed $300 million offering of its Class A common stock, with an additional 30-day option for underwriters to purchase up to $45 million more.

The proceeds will be used to buy common units from CWGS Enterprises, LLC, which will, in turn, use the funds for general corporate purposes like strengthening the balance sheet, growth capital and debt reduction.

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According to data from Benzinga Pro, CWH has a 52-week high of $28.72 and a 52-week low of $16.20.