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NCR prices common stock offering

NCR Corp. priced of an offering of 9,129,966 common shares at a public offering price of $32.75 per share.

The shares are being offered solely by entities affiliated with Blackstone Group Inc. and NCR will not receive any of the proceeds of the offering.

The common stock offering comes as NCR announced the retirement of 512,221 shares of the company's series A convertible preferred stock held by the private equity firm. NCR agreed to pay Blackstone $302 million in cash in exchange for 237,673 preferred shares and the remaining 274,548 shares were to be converted to approximately 9.16 million shares of common stock.

The offering is expected to close Sept. 20.

Goldman Sachs & Co. LLC and Wells Fargo Securities are underwriters of the common stock offering.