(WMG) – Access Industries Offloads Stake In Warner Music Via Equity Offering At 4.5% Discount
- Warner Music Group Corp (NASDAQ: WMG) priced 8.6 million shares by Access Industries, LLC affiliates at $41 per share in a secondary public offering.
- The offer price implies a 4.5% discount to Warner Music Group’s January 3 closing price of $42.95.
- The estimated gross proceeds are $351.1 million.
- Warner Music Group is not selling any shares of common stock in the offering and will not receive any proceeds.
- Price Action: WMG shares traded lower by 3.96% at $41.25 in the premarket session on the last check Tuesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.