By Chris Wack
AudioEye shares were down 19% at $22.13 after the company priced an underwritten secondary offering of up to 1.25 million shares to be sold by certain selling stockholders at $24 a share.
Shares of the digital technology company hit their 52-week high of $34.85 on Nov. 11, and are up 418% in the past 12 months.
The offering is expected to close Friday. The underwriters have a 30-day option to buy up to an additional 187,500 shares from the selling stockholders at the public offering price, less underwriting discounts and commissions.
The selling stockholders will receive all of the proceeds from the proposed offering. The company will not sell any shares in the offering, nor will it receive any proceeds from the sale of shares in the offering.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 05, 2024 10:10 ET (15:10 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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