Why Cambium Networks' Shares Plunged 15.7% on Friday

Travis Hoium, The Motley Fool
·1-min read
Why Cambium Networks' Shares Plunged 15.7% on Friday

Shares of wireless solutions company Cambium Networks (NASDAQ: CMBM) fell as much as 15.7% in trading Friday after the company announced a share offering. On Tuesday, Cambium's management said shareholder Vector Cambium Holdings intended to sell 2.5 million shares through an underwritten secondary offering. Proceeds to Vector Capital would be about $70 million.