Bloomin' Brands prices secondary offering

TAMPA — For a secondary public offering expected to close May 29, Bloomin' Brands Inc. announced it has set a price of $21.50 per share, according to a statement from the company.

Shareholders of the company (symbol: BLMN, recent price: $22.01) plan to offer 19 million shares of the company's common stock. This is 2 million more shares than previously announced, according to the Wall Street Journal. Once the offering is closed, underwriters have a 30-day option to purchase up to an additional 2.85 million shares of common stock from the selling stockholders, the firm says in its statement.

After experiencing a loss of $35.87 million for the quarter ending Sept. 30, the restaurant company has rebounded earnings, posting net income of $75.76 million in the first quarter. This is a 13.6% increase in earnings over the same quarter last year.