Stock Alert: Skillz Falls 9% Post Pricing Of Public Offering

Shares of online mobile multiplayer competition platform Skillz Inc. (SKLZ) are down more than 9% Friday morning.

Thursday the company priced its previously announced public offering of 32 million shares at $24 per share.

Skillz plans to use the net proceeds from the offering for working capital and general corporate purposes.

Skillz will sell 17 million Class A common shares and certain selling stockholders will sell 15 million Class A common stocks, for which Skillz will not receive any proceeds.

SKLZ, currently at $24.12, has been trading in the range of 9.81- $46.30 in the last one year.

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