Virgin Galactic shares are trading lower after the company announced another at-the-market stock offering of $400 million to raise capital. The offering would be dilutive to shares.
Portfolio Pulse from Benzinga Newsdesk
Virgin Galactic announced a $400 million at-the-market stock offering, causing its shares to trade lower due to the dilutive effect.
June 23, 2023 | 10:33 am
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Virgin Galactic's stock price is trading lower after announcing a $400 million at-the-market stock offering, which is dilutive to shares.
The announcement of the $400 million at-the-market stock offering is dilutive to Virgin Galactic's shares, causing the stock price to trade lower. Investors may be concerned about the dilution of their holdings, leading to selling pressure.
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