U.S. Silica Holdings (SLCA) Falls as Shareholder Plans to Sell 8.5M Shares

March 11, 2013 5:43 PM EDT
U.S. Silica Holdings, Inc. (NYSE: SLCA) is down 3 percent after-hours Monday after the company announced that a selling stockholder, GGC USS Holdings, LLC, an affiliate of Golden Gate Capital, has agreed to sell 8,500,000 shares of U.S. Silica common stock in an underwritten offering. The underwriters will be granted a 30-day option to purchase up to an additional 1,275,000 shares of common stock. U.S. Silica will not sell any shares in the offering and will not receive any proceeds from the offering.

Morgan Stanley & Co. LLC, BofA Merrill Lynch, Simmons & Company International, Jefferies LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.

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