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OneSpaWorld Holdings Ltd (NASDAQ: OSW) has announced a proposed underwritten secondary public offering of its common shares on behalf of Steiner Leisure Limited and certain affiliates of OneSpaWorld's directors.
The Selling Shareholders intend to offer $80.0 million of OneSpaWorld's common shares.
The offering consists entirely of secondary shares to be sold by the Selling Shareholders, and OneSpaWorld will not receive any proceeds from the offering.
The Selling Shareholders are expected to grant the underwriters a 30-day option to purchase up to an additional $12.0 million of OneSpaWorld's common shares at the public offering price.
Stifel and William Blair will act as joint book-running managers for the offering.
Price action: OSW shares are trading lower by 6.69% at $10.46 on the last check Wednesday.
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