With their stock up 96% over the past 10 months, Tile Shop Holdings (NASDAQ:TTS) insiders are cashing out at the top.
On Wednesday, Tile Shop announced that "certain of its stockholders" intend to sell 4.25 million shares of their stock in a public offering at $24.25 per share. An overallotment option may trigger an additional 637,500 shares being brought to market, also coming out of said insider stakes.
Only shareholders of Tile Shop will be participating in this secondary offering, and only shareholders will receive the proceeds of the sales. Tile Shop itself will collect no money from this offering.
The offering is expected to close on June 10.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Tile Shop Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.