Shares of Kingsoft Cloud (NASDAQ: KC) have plunged today, down by 11% as of 12:05 p.m. EDT, after the company announced a secondary offering. Kingsoft Cloud separately reported a new strategic partnership. The offering has not yet priced, but Kingsoft Cloud estimates that net proceeds will be approximately $298.8 million to $398 million, depending on whether underwriters exercise their option.
Former NBA guard Darius Morris has died at the age of 33. He played for five teams during his four NBA seasons. Morris played college basketball at Michigan.
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