Stock Alert: Syneos Health Declines 7%
Shares of biopharmaceutical solutions provider, Syneos Health, Inc. (SYNH) are falling more than 7% Wednesday morning at $56.64. It has been trading in the range of $30.02- $74.25 in the past one year.
Syneos Health today priced the previously announced underwritten secondary offering of 7 million shares by affiliates of Thomas H. Lee Partners, L.P., and Advent International Corporation at $59.75 per share.
Syneos Health is not selling any shares and will not receive any proceeds. The offering is expected to close on September 17, 2020.
The Company has agreed to buy from the underwriters nearly $30 million shares being sold by the selling stockholders.
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