Clean Harbors Rallies Despite Share Offering (CLHB)

April 18, 2008 by Douglas A. McIntyre

Clean Harbors Inc. (NASDAQ: CLHB) announced a 2.5 million share follow-on common stock offering after market close in an SEC Filing last night.

Goldman Sachs is the underwriter for the offering and is granted 375,000 over-allotment options.

The proceeds from the offering for the waste management services provider should reach over $200 million and will be used for acquisitions, debt repayments, or working capital. 

Shares are up near 52-week highs at $64.84, up $0.16 on the day. The 52-week range is $42.52 to $67.58.

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Rachel Lopez
April 18, 2008