Bowman Consulting Down 10% In Pre-market After Pricing 1.3 Mln Share Offering

(RTTNews) - Shares of Bowman Consulting Group Ltd. (BWMN), an engineering and infrastructure services firm, were down more than 10 percent to $35.53, after the company announced pricing of its previously announced public offering of 1,323,530 shares at $34.00 per share.

Apart from this, 147,058 shares of the company are being sold by its President, Chief Executive Officer and Chair of the board of directors and Michael Bruen, the company's Executive Vice President and Chief Operating Officer.

Gross proceeds to Bowman from the offering, which is expected to close on April 1, are estimated to be approximately $45.0 million.

Bowman shares had closed at $39.48, down 0.50 percent on Tuesday. The stock has traded in the range of $25.52 - $42.90 in the last 1 year.