FG Financial Group Priced 865K Share Public Offering Of Common Stock At $1.85/Share
Portfolio Pulse from Charles Gross
FG Financial Group (NASDAQ:FGF) has priced an underwritten public offering of 865,000 shares of its common stock at $1.85 per share, raising $1.6 million before deducting underwriting discounts, commissions, and expenses. The company has also granted underwriters a 45-day option to purchase up to 129,750 additional shares. The offering is expected to close on June 2, 2023.
May 30, 2023 | 11:49 pm
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FG Financial Group's public offering of 865,000 shares at $1.85 per share may dilute existing shareholders' value, but the $1.6 million raised will be used for general working capital purposes.
The public offering of 865,000 shares at $1.85 per share will dilute the value of existing shares, which may negatively impact the stock price in the short term. However, the funds raised will be used for general working capital purposes, which could benefit the company's operations in the long run.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100