The day after its shares were doubled in a stock split, Maumee agribusiness giant The Andersons Inc. said yesterday it would offer an additional 2 million shares to help fund its ethanol investments and other operations.
The firm did not disclose the timing of the stock offering. It also said existing shareholders would sell 280,000 shares.
In the company s first stock trading since its shares were split 2 for 1 after the Nasdaq National Market closed Tuesday night, the stock finished up 21 cents at $41.51 yesterday. The shares had closed at $82.65 Tuesday and opened at $42.89 yesterday, but the adjusted Tuesday close was set at $41.30.
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