By Dean Seal
Shares of QuidelOrtho fell after the company said Carlyle Group was selling 8.26 million of its shares in an underwritten secondary offering.
The stock was down 7.3% at $35.75 in premarket trading on Wednesday. Shares had already fallen 48% year-to-date when the market closed Tuesday.
The maker of an at-home Covid-19 test and other products said after yesterday's closing bell that Carlyle Group would sell the shares in an offering set to close on Nov. 21. QuidelOrtho will not receive any proceeds from the offering.
Goldman Sachs is acting as the sole underwriter and will offer the shares to the public at a fixed price, the company said.
QuidelOrtho issued a press release on Tuesday night saying the offering had been priced, though it didn't provide the per-share price.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 20, 2024 07:26 ET (12:26 GMT)
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