OneMain Holdings, Inc. [NYSE: OMF] has declared the secondary public offering of 8.0 million shares of the firm’s common stock by a particular entity administered by associates of Apollo Global Management, Inc. and Värde Partners, Inc. at a price to the public of $53.00 per share.
As of February 1, 2021, the 8.0 million common stock shares to be offered in this deal reflect around 6.0 percent of the outstanding common stock of the Company. The size of the selling has increased from 7.0 million shares to 8.0 million shares. The firm does not deliver any shares and will not earn any profits from the planned offering. The deal is scheduled to execute on 16 February 2021, made pursuant to the usual finalizing conditions.
Shares of OneMain Holdings, Inc. [NYSE: OMF] went down 3.64% as it lost -2.03 during the trading session of Wednesday. In the past 52-weeks of trading, this firm’s share has experienced a change of $11.45 from its 52-week low range and $59.00 from its 52-week high range. Its share has surged 369.25% and tumbled at -8.59 from its 52-week low and high. OneMain Holdings, Inc.’s market cap has stayed high, reaching $7.03 billion at the time of writing.
As per the offering, underwriters will have the opportunity to purchase up to an extra 1.2 million shares of common stock from the selling stockholders. Moreover, the selling stockholders have reached an agreement to a 75-day lock-up of their common stock. The joint book-running managers of this offering will be RBC Capital Markets, Barclays, and Citi.