Sterling Announces Launch Of Secondary Public Offering Of 8M Shares By Selling Shareholders And Concurrent Share Repurchase Of 1M Shares
Portfolio Pulse from Benzinga Newsdesk
Sterling announced the launch of a secondary public offering of 8 million shares by selling shareholders and a concurrent share repurchase of 1 million shares.
June 06, 2023 | 8:04 pm
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NEUTRAL IMPACT
Sterling's secondary public offering of 8 million shares and concurrent share repurchase of 1 million shares may impact its stock price.
The secondary public offering of 8 million shares by selling shareholders may increase the supply of shares in the market, potentially putting downward pressure on the stock price. However, the concurrent share repurchase of 1 million shares by the company may offset this effect, providing some support to the stock price. The net impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100