An offering in which some of the proceeds from the underwriting goes to the issuer and some goes to the selling shareholders. In other words, it is a combination of a primary and secondary offering. A portion of shares being offered are non-issued, authorized stock, with the remaining being restricted shares previously issued to beneficial owners. The funds raised by this offering are divided, on a pro-rata basis, between the issuer and the major stockholders offering such shares.
June 13, 2024
