Zurn Elkay Water Solutions (ZWS) said Tuesday its former stockholder Ice Mountain is selling about 7.8 million common shares in an underwritten secondary public offering.
Zurn Elkay will not receive any proceeds from the sale in this secondary offering, but intends to repurchase about $50 million of shares.
The underwriters will be granted a 30-day option to purchase up to an additional 1.2 million shares from the selling stockholder, it said.
Zurn shares were down more than 3% in recent after-hours activity.
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