With their stock up 96% over the past 10 months, Tile Shop Holdings insiders are cashing out at the top.
On Wednesday, Tile Shop announced that "certain of its stockholders" intend to sell 4.25 million shares of their stock in a public offering at $24.25 per share. An overallotment option may trigger an additional 637,500 shares being brought to market, also coming out of said insider stakes.
Only shareholders of Tile Shop will be participating in this secondary offering, and only shareholders will receive the proceeds of the sales. Tile Shop itself will collect no money from this offering.
The offering is expected to close on June 10.
The article Tile Shop Shareholders Cash Out originally appeared on Fool.com.
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