Cubic Corp. (CUB) announced the pricing of a secondary underwritten public offering of 2.315 million shares of its common stock at a price to the public of $45.75 per share. The company said all the shares were offered by certain shareholders, comprised of trusts created by Cubic's founder, Walter Zable, who passed away in 2012.
The selling shareholders will receive all net proceeds from the offering. The offering is expected to close on May 21.
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