First Watch Restaurant Group shares are trading lower after the company announced a secondary offering of 3 million shares of common stock.
Portfolio Pulse from Benzinga Newsdesk
First Watch Restaurant Group announced a secondary offering of 3 million shares of common stock, causing its shares to trade lower.

June 09, 2023 | 5:29 pm
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First Watch Restaurant Group's shares are trading lower after announcing a secondary offering of 3 million common stock shares.
The announcement of a secondary offering of 3 million shares of common stock has led to a decrease in First Watch Restaurant Group's share price. This is because secondary offerings often dilute the value of existing shares, causing the stock price to drop in the short term.
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IMPORTANCE 80
RELEVANCE 100