- Certain selling shareholders affiliated with Silver Lake are selling 3 million shares in Memory, storage, and hybrid solutions provider SMART Global Holdings Inc (NASDAQ:SGH) in a secondary public offering.
- The company will not receive any of the proceeds from the stock sale.
- Morgan Stanley & Co. LLC is the sole underwriter for the proposed offering.
- The shares traded higher by 13.4% at $53.94 on Wednesday after the company reported better-than-expected Q3 EPS and sales results. The company also issued Q4 EPS and sales guidance above analyst estimates.
- Price action: SGH shares closed lower by 4.84% at $53.31 on Thursday.
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