TravelCenters of America (NASDAQ: TA) cut the price of its public offering of new shares by more than a third to $14, but its stock price fell again Wednesday, closing below the new asking price.
TA shares closed Wednesday at $13.59, down $1.81 or 11.75% on the NASDAQ.
Westlake, Ohio-based TA planned to sell $75 million worth of shares of new stock at $21.88, the closing price last Friday. But shares cratered on Monday, falling nearly 22%.
The operator of 263 travel plazas and truck stops in 44...