Neutral Tandem prices stock offering at $18 per share
Shares of Neutral Tandem Inc. (Nasdaq:TNDM) are sagging on news after the close on Thursday that the provider of tandem services to wireless, wireline, cable and broadband providers has priced a secondary offering of 4.5 million shares of its common stock at $18 per share. The Chicago-based company will not receive any proceeds from the sale of the shares.
At 12:35 p.m. ET, the stock had let go $0.51, or 3%, to $18.47. For detailed price information and recent news stories about Neutral Tandem, click TNDM.
