Camping World Holdings Inc. saw its shares make a handy gain on Tuesday (Oct. 24) after it announced that it would be conducting a secondary offering. As reported by 24/7 Wall St., it seems like an opportune time considering the stock has practically doubled over the past 52 weeks.
According to 24/7 Wall Street, excluding Tuesday’s move, Camping World has outperformed the U.S. broad markets, with the stock up over 32% year to date. Over the past year, the stock is up 97%.
The company did not mention any pricing details in the SEC filing, but it intends to offer 6.7 million shares with an overallotment option for an additional 1.005 million shares. At the most recent closing price $42.83, the entire offering is valued up to $330 million.
The underwriters for the offering are Goldman Sachs, JPMorgan, Merrill Lynch, Credit Suisse, Baird, BMO Capital Markets, KeyBanc Capital Markets, Stephens and Wells Fargo.
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