Shares of Core & Main, Inc. (CNM) are falling more than 10% in the morning trade on Tuesday.
On Monday, the water, wastewater, storm drainage and fire protection products distributor announced secondary offering of 20 million Class A shares of the company by certain selling stockholders.
Core & Main said it will not receive any proceeds from the offering.
CNM, currently at $27.68, has traded in the range of $21.45- $32.54 in the past 52 weeks.
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