BUZZ-Kefir maker Lifeway Foods slips after secondary offering

Lifeway Foods, Inc.

Lifeway Foods, Inc.

LWAY

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** Shares of Kefir maker Lifeway Foods LWAY.O fall 3% to $26.43

** LWAY announces pricing of secondary offering of 3.5 million shares by Danone at $19.50 apiece

** Offering priced at 28.4% discount to stock's last close

** BTIG acted as sole book-running manager for offering

** LWAY agreed to repurchase roughly $5 million of shares in offering

** Danone had 22.6% stake in LWAY before the offering, according to prospectus

** Two brokerages covering the stock rate "buy"; median PT $34.50 - data compiled by LSEG

** As of last close, LWAY stock up 12.5% YTD


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