U.S. Silica (SLCA) to Offer 9M Shares of Common Stock

November 9, 2016 6:18 PM EST

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U.S. Silica Holdings, Inc. (NYSE: SLCA) is down 4% after-hours after the company announced today that it has commenced an underwritten public offering of 9,000,000 shares of U.S. Silica common stock. The underwriters will be granted a 30-day option to purchase up to an additional 1,350,000 shares of common stock.

U.S. Silica intends to use the net proceeds of the offering to fund general corporate purposes including potential acquisitions of complementary businesses or assets.

Morgan Stanley & Co. LLC and Barclays Capital Inc. are acting as joint book-running managers for the offering.

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