RTTNews | Sep 14, 2021 07:34AM EDT

07:34 Tuesday, September 14, 2021 (RTTNews.com) - Shares of health care apparel company FIGS, Inc. (FIGS) are down more than 4% in the pre-market on Tuesday after the company announced secondary offering of about 8.8 million class A shares by its largest stockholder, Tulco, LLC, and certain members of FIGS' management team.

The offering consists 8,826,703 class A common shares by selling shareholders with a 30-day option for the underwriters to purchase an additional 1,324,005 shares.

FIGS said it will not receive any proceeds from the sale.

FIGS closed Monday's regular trading at $43.82, up 0.44%. The stock is currently at $41.90.

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