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Gambling.com Group Ltd (NASDAQ: GAMB) shares are trading lower by 10.32% to $9.86 Thursday morning after the company announced pricing of a secondary offering of ordinary shares by selling shareholders.
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Gambling.com announced the pricing of an underwritten secondary offering of 4,250,000 ordinary shares at a public offering price of $9.25 per share. The Selling Shareholders granted the underwriters a 30-day option to purchase up to 637,500 additional ordinary shares at the same price.
The offering solely comprises the Selling Shareholders’ shares and does not impact the company’s outstanding shares. The company will not receive any proceeds from the sale. The offering is expected to close on June 20, subject to customary conditions.
According to data from Benzinga Pro, GAMB has a 52-week high of $11.49 and a 52-week low of $6.62.
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This article Why Gambling.com Group Stock Is Diving During Thursday’s Session originally appeared on Benzinga.com.