Investors are doling out a beating to Noranda Aluminum Holding shares, which late yesterday said its largest investor planned to sell all of its 33 percent stake. As of 11:10 a.m., the shares (Ticker: NOR) were off a whopping 27 percent to $2.18, their lowest level since going public five years ago. Volume was massive, with 10.4 million shares already having been traded versus a daily average of about 330,000.
AmSurg Corp. has announced the offering of 8.5 million shares of common stock and 1.25 million shares set to convert into common stock in July 2017. The convertible stock has an offering price of $100 per share, while shares of AmSurg (Ticker: AMSG) are down 2 percent to $48.96 Tuesday afternoon. Year to date, they're up nearly 7 percent. According to a press release, AmSurg will use the proceeds, alongside debt financing and cash, to finance the company's acquisition of Sheridan Healthcare, a Florida-based anesthesia and specialty services company.
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