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Stock Alert: Reinsurance Group Down 6%

Reinsurance Group of America, Inc. (RGA) shares are declining around 7 percent on Wednesday morning.

The company priced its underwritten public offering of 6,172,840 shares of RGA's common stock, par value $0.01 per share at a public offering price of $81.00 per share.

The Fortune 500 life reinsurance and financial solutions company expects to close the public offering on June 5, 2020, and expects to use the net proceeds from the offering for general corporate purposes.

The shares are currently at $88.97, down 5.65 percent from its previous close of $94.27.

RGA fell from its highs in February and has been striving for a comeback.

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