Bowman Consulting Group Ltd. (BWMN), a firm specializing in engineering and infrastructure services, saw its shares fall over 10% to $35.53. This came in the wake of the company's announcement regarding the pricing of its public offering of 1,323,530 shares, which have been priced at $34.00 per share.
In addition, the firm's President, CEO, and Chair of the Board of Directors, alongside Michael Bruen, Executive Vice President and Chief Operating Officer, intend to sell 147,058 shares.
The public offering, slated for closure on April 1st, is projected to generate gross proceeds amounting to roughly $45.0 million. On Tuesday, shares of Bowman concluded at $39.48, dropping 0.50%. Over the past year, the stock has had a trading range of $25.52 to $42.90.
