Barnes & Noble Education Shares Fall After Plans for ATM Equity Offering

Dow Jones09-20

By Chris Wack

Barnes & Noble Education shares dropped after the company said it was selling $40 million of its stock in an at-the-market equity offering.

Shares of the Basking Ridge, N.J., company were down 7% to $10.51 in early trading Friday, and are down 91% in the past 12 months.

The company said in a filing to the Securities and Exchange Commission that it is in a share agreement with BTIG, who will act as sales agent for the offering.

Barnes & Noble Education will set the parameters for the sale of the shares, including the number of shares or the proceeds to be raised, and pay BTIG a commission equal to 2% of sales.

Either side may terminate the deal, and Barnes & Noble Education isn't obligated to sell any shares under the agreement.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

September 20, 2024 10:23 ET (14:23 GMT)

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