Andersen (ANDG) launched a public offering of nearly 4.3 million of its Class A shares by some selling stockholders, subject to market conditions, the company said late Monday.

The selling shareholders expect to give the underwriters a 30-day option to buy up to an additional 642,668 shares, the company said.

Andersen said it is not selling any shares in the proposed offering and will not get any proceeds from the sale of shares.

Andersen shares were down 7% in after-hours activity.