Holley drops after top shareholder's stake sale priced

Holley

11/09/2025 12:57

** Shares of auto parts maker Holley HLLY.N down 3% before the bell to $2.90 after secondary offering priced

      ** Bowling Green, Kentucky-based Holley late Weds announced sale of 14 mln shares by private equity firm Sentinel Capital Partners

        ** Offering price of $2.75 is 8% discount to stock's last close

        ** HLLY shares on Weds ultimately tumbled 18.5% for their biggest daily drop since Feb 2023 after co launched the offering

    ** Sale would take Sentinel's holdings from 33.8% to 20.5% stake, if offering's full overallotment option is exercised, p
    er the prospectus filing

    ** Holley has ~120.5 mln shares outstanding for $360 mln market cap

    ** JP Morgan and Jefferies are lead bookrunners for the offering, joined by William Blair and Canaccord Genuity

** Through Weds, HLLY shares up ~50% this quarter, leaving them down 1% YTD

    *
    * 6 of 8 analysts covering HLLY rate stock "strong buy" or "buy" and 2 rate "hold"; median PT is $3.75, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))