HOUSTON (AP) — Francesca's has announced a secondary offering of about 7.4 million shares of its common stock.
The women's accessories and clothing company said late Tuesday that all of the shares are being offered by selling stockholders, including some of its management and certain CCMP Capital Advisors LLC affiliates.
CCMP will no longer own any of the company's stock once the offering closes.
Francesca's Holdings Corp. will not receive any of the offering's proceeds. The company has almost 44 million shares, according to FactSet.
Its shares fell $1.46, or 4.8 percent, to $28.69 in premarket trading Wednesday.
Last week the Houston company announced better-than-expected fourth-quarter results and issued a strong outlook for the current quarter and full year. Its fourth-quarter profit jumped 78 percent to $14.9 million, or 33 cents per share. Revenue increased 41 percent to $86.7 million.
Analysts surveyed by FactSet, on average, expected a profit of 30 cents per share on $84.7 million in revenue.
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