GrafTech International (EAF) stock dipped -6.11 to $9.06 in the late hours yesterday. The company revealed that affiliates of Brookfield Asset Management Inc. and Brookfield Business Partners LP, members of the Brookfield consortium, priced an underwritten secondary offering of approximately 8,500,000 shares of GrafTech common stock.
This represents an increase of 1,500,000 shares relative to the number previously announced. Net proceeds from the offering will be paid to the selling stockholders. The offering does not include shares of GrafTech’s common stock.
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The offering will be underwritten by Morgan Stanley & Co. LLC.
