LSB Industries down on pricing top holder's share sale

LSB Industries

08/11/2022 11:19

** Shares of LSB Industries Inc  LXU.N  down 2.9% at $13.88
premarket agricultural chemicals maker's secondary offering
prices
    ** Co late Mon announces sale of 14.35 mln shares by
Eldridge Industries at $13.50, 5.6% discount to last sale
 urn:newsml:reuters.com:*:nBw7jSnrva
    ** LXU on Mon fell 13.8% after co launched offering that
takes Todd Boehly-led investment vehicle, and #1 holder, from
21.5% to ~4% (~3.3 mln shares), per securities filing
    ** Boehly also owns stakes in the Chelsea Football Club and
the MLB’s LA Dodgers
    ** Co to repurchase 3.5 mln shares from underwriter group
led by UBS and Goldman Sachs 
    ** LXU up 29% YTD through Mon close. Shares have roughly
halved from 2022 peak of $27.45 hit in Apr as fertilizer prices
soared in wake of Russia-Ukraine war
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))