Holley Performance Brands announced the launch of a secondary offering of 14,000,000 shares of common stock by a selling stockholder controlled by Sentinel Capital Partners, LLC. The selling stockholder will receive all of the proceeds from this offering.
Holley Performance Brands is not offering any shares of common stock and will not receive any proceeds from this transaction. The selling stockholder is expected to grant the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of common stock.
A registration statement relating to the offering has been filed with the Securities and Exchange Commission and is effective. This offering represents a liquidity event for a major shareholder rather than a capital raise for the company itself.
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