🔴 Birkenstock Holding is trading 4.3% down in pre-market after a secondary share offering by an affiliated entity of its majority shareholder.

Birkenstock Holding is trading 4.3% down at $39.25 in pre-market following an announcement of a secondary offering of 22.5 million shares by BK LC Lux MidCo S.à r.l., an entity affiliated with L Catterton. - The shares are being offered at a discount to the market, and Birkenstock itself will not receive any proceeds from the transaction. - This follows an 11.59% surge to $41.00 on August 13 after fiscal third-quarter revenue beat expectations and full-year guidance increased. - Adjusted EPS was €0.74 versus €0.76 consensus; adjusted EBITDA margins narrowed amid currency effects and U.S. tariffs.