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OneSpaWorld Shares Fall After Selling Stockholders Seek To Offload Shares Via Equity Offering

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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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