Kefir maker Lifeway Foods slips after secondary offering

Lifeway Foods

14/05/2026 19:22

** Shares of Kefir maker Lifeway Foods LWAY.O fall 3% to $26.43

** LWAY announces pricing of secondary offering of 3.5 million shares by Danone at $19.50 apiece

** Offering priced at 28.4% discount to stock's last close

** BTIG acted as sole book-running manager for offering

** LWAY agreed to repurchase roughly $5 million of shares in offering

** Danone had 22.6% stake in LWAY before the offering, according to prospectus

** Two brokerages covering the stock rate "buy"; median PT $34.50 - data compiled by LSEG

** As of last close, LWAY stock up 12.5% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))