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Teladoc stock price
Teladoc latest news:
Teladoc shares down 8% after company announces secondary offering
Shares of Teladoc Inc. fell nearly 8% after the Purchase, N.Y.-based company said it plans to sell shares of its common stock, 3.25 million shares offered by the company and 830,000 shares offered by certain stockholders. Underwriters have the option to buy up to an additional 612,000 shares from Teladoc, the company said. Proceeds of the primary portion of the offering will go to prepay debt, with the remaining proceeds used as working capital and for general corporate purposes, the company said. Teladoc will not receive any proceeds from the shares sold by the stockholders. Teladoc stock ended the regular trading day flat. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.