Birkenstock Holding is trading 4.05% down at $39.34 after an affiliate of L Catterton announced a 22.5 million-share secondary offering priced at a 4.02% discount to the August 13 close.
- Increases supply without raising capital; expected to close August 17.
- Shares gained 11.59% on August 13 after strong earnings and raised guidance.
- Size is substantial relative to public float; broader markets are only modestly lower, suggesting company-specific selling pressure.