Tumi Stock to Be Offered in Secondary Issue
Shareholders of Tumi will unload more than 10 million shares in an underwritten secondary stock issue. In total, 10.14 million shares will be offered, and the underwriters have been granted an option to purchase an additional amount of roughly 1.5 million.
In the press release announcing the move, Tumi stressed that it won't receive any of the proceeds from the issue. It didn't specify the pricing or timing of the offering.
Goldman Sachs and units of Credit Suisse and JPMorgan Chase are the joint book-running managers of the issue, while William Blair and Jefferies are its co-managers.
The article Tumi Stock to Be Offered in Secondary Issue originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Goldman Sachs and owns shares of JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.