Benzinga | Jun 3, 2021 06:57AM EDT

Cambium Networks Prices Secondary Equity Offering by Selling Stakeholder at 16.5% Discount

* Wireless networking infrastructure provider Cambium Networks Corp's (NASDAQ:CMBM) priced 2 million shares in a secondary public offering at $48 per share.

* The offering is from the selling shareholders, Vector Cambium Holdings (Cayman), L.P., for $96 million.

* The offer price signifies a 16.5% discount to Tuesday's closing price of $57.50.

* As per the last 13D Sec filing, Vector Cambium Holdings (Cayman), L.P. owned 14.9 million shares.

* The underwriters have a 30-day option to purchase up to an additional 0.3 million shares.

* Cambium is not selling any shares and will not receive any offering proceeds.

* Price action: CMBM shares are lower by 0.72% at $48.56 in the premarket session on the last check Thursday.