Birkenstock's largest shareholder, L Catterton, along with a group of employees, is offering to sell 14 million shares of the US-traded footwear maker. This secondary public offering will increase the tradable float by 56%, from the current 25 million shares. The announcement has led to a 7% drop in Birkenstock's stock price. L Catterton, which holds voting power over all the shares being offered, is also planning to grant underwriters an option to purchase additional shares. The IPO sponsor is LVMH Family Office.
🇺🇸 Birkenstock’s biggest shareholder is selling millions of shares, sending them lower https://t.co/Ttw1UxYF1K
Birkenstock $BIRK has announced a "secondary public offering" of 14 million shares by L Catterton, its largest shareholder. L Catterton, along with Birkenstock executives and employees, holds voting power over all shares being offered. They also plan to grant underwriters a…
Birkenstock’s biggest shareholder is selling millions of shares, sending them lower https://t.co/BHccFTTcLd
$BIRK ↓7% — Called it! IPO Sugar Daddy Sponsor & $LVMH Family Office @L_Catterton just filed the sale of 14MM Shrs @BIRKENSTOCKUSA tradable float will soon swell by 56% (current Float 25MM Shrs) Guess fancy sandals trading 100X wasn’t really sustainable https://t.co/P33zlTmB5u https://t.co/yaavOfe4mT
L Catterton and a group of employees of Birkenstock Holding are offering to sell 14 million shares of the US-traded footwear maker. https://t.co/ICEXJitoVK
Birkenstock’s biggest shareholder is selling some shares https://t.co/mJnRhZnlSN
German sandal maker Birkenstock, a 250-year-old family brand known more for orthopedics than high fashion, has over the past decade become a surprise runway darling, cashed in on viral trends, and accumulated quite a bit of street cred. https://t.co/29wwuz9eSG