05:20 PM EST, 03/05/2024 (MT Newswires) -- NAPCO Security Technologies ( NSSC ) said late Tuesday Richard Soloway, its chairman, president, and chief executive officer, intends to sell shares in an underwritten secondary public offering.

The company said Soloway expects to grant the underwriters a 30-day option to purchase additional shares. Needham and TD Cowen are joint book-runners, and D.A. Davidson is the lead manager.

Shares of the company were more than 4% lower in after-hours activity.

Price: 42.11, Change: -1.95, Percent Change: -4.43