- Gates Industrial Corporation plc (NYSE:GTES) has priced the previously announced secondary offering of 22.5 million shares by selling shareholders at $11.75 per share.
- The offer price represents a 3% discount to the company’s closing price on May 17.
- The selling stockholders are affiliated with Blackstone Inc (NYSE:BX).
- The selling stockholders have also granted the underwriters a 30-day option to purchase up to 3.4 million additional shares.
- The offering is expected to close on May 23, 2023.
- Price Action: GTES shares are trading lower by 0.33% at $12.02 in premarket on the last check Thursday.
Microsoft To Rally Over 13%? Here Are 10 Other Analyst Forecasts For Monday
Deutsche Bank cut the price target for Autoliv, Inc. (NYSE: ALV) from $113 to $110. Deutsche Bank analyst Emmanuel Rosner maintained a Buy rating. Autoliv shares fell 0.9% to $86.32 in pre-market trading.
