Stock Alert: Floor & Decor Holdings Down 4%

Shares of Floor & Decor Holdings Inc. (FND) are losing more than 4 percent or $1.90 in Wednesday's morning trade at $44.50 after the company announced the pricing of a secondary offering of its common stock by selling stockholders. The stock has traded in a range of $24.36 to $62.62 in the past 52 weeks.

Floor & Decor is a multi-channel specialty retailer operating 123 warehouse-format stores across 30 states that offers hard-surface flooring, along with decorative and installation accessories.

Wednesday, Floor & Decor Holdings announced the pricing of an underwritten public offering of 4.97 million shares of its common stock by certain of its stockholders. The stockholders include funds affiliated with Ares Management Corp. (ARES) and Freeman Spogli Management Co., L.P., as well as certain directors and officers of the company.

Floor & Décor Holdings said it is not selling any shares in this offering and will not receive any proceeds from the sale of these shares. Morgan Stanley & Co. LLC is acting as the sole underwriter for the offering, which is expected to close on May 22, 2020.

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