A Private Equity Firm Sold $148 Million of Innovex Stock. The Company Itself Gets None of It

Innovex International priced an underwritten public offering of 5.75 million shares of its common stock at $25.75 per share — a transaction worth roughly $148 million at that price. The shares are being sold by funds affiliated with Amberjack Capital Partners, an existing investor in the company, not issued by Innovex itself.

That distinction matters for how to read the news. This is a secondary offering, meaning Innovex will not receive any proceeds from the sale — the transaction moves shares from one set of holders (the Amberjack-affiliated funds) to new buyers in the public market, without changing the company's own cash position or share count in the way a primary offering would. For Innovex, it mainly means an existing large investor is reducing its position and the stock's public float increases as a result.

Innovex also took part in the same transaction on the buy side: the company repurchased 575,000 of the offered shares under its existing buyback program, meaning a portion of what Amberjack's funds sold went straight back to Innovex rather than out to new public holders. The offering was expected to close on August 10, 2026, subject to customary closing conditions.