Landsea Homes shares are trading lower after its largest shareholder priced a secondary stock offering of 2.95 million shares at $7.50 per share. Landsea Homes will purchase 443,478 shares from the offering.
Portfolio Pulse from Benzinga Newsdesk
Landsea Homes' largest shareholder priced a secondary stock offering of 2.95 million shares at $7.50 per share, causing the stock to trade lower. Landsea Homes will purchase 443,478 shares from the offering.
June 13, 2023 | 11:14 am
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Landsea Homes shares are trading lower due to the secondary stock offering priced at $7.50 per share by its largest shareholder. The company will purchase 443,478 shares.
The secondary stock offering priced at a lower value than the current market price has led to a decline in Landsea Homes' share price. The company's decision to purchase 443,478 shares from the offering indicates its confidence in the stock, but the overall impact on the share price is negative in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100