STR Holdings (STRI) Prices 12.3 Million IPO Shares at $10 Each
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STR Holdings, Inc. (NYSE: STRI) announced that the initial public offering of 12,300,000 shares of its common stock has been priced at $10.00 per share. The shares began trading today on The New York Stock Exchange under the ticker symbol "STRI."
The closing of the offering is expected to take place on November 12. Of the shares being sold, 3,300,000 are being offered by the Company and 9,000,000 shares are being offered by selling stockholders. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,845,000 shares at the initial public offering price to cover over-allotments, if any. The Company will not receive any of the proceeds from the sale of shares by the selling stockholders.
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