By Doc Louallen
Mama's Creations shares declined after the company launched an underwritten public offering of its common stock.
Shares slid 13% to $17.91 in after-hours trading on Monday. The stock touched a 52-week high of $21.00 in the market session, and is up 53% this year.
The company said all shares will be sold by the company, with underwriters holding a 30‑day option to buy up to an additional 15% of the shares offered to the public.
Mama's Creations plans to use proceeds for working capital and general corporate purposes, which may include potential acquisitions, though it currently has no agreements in place, the company said.
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