Madison Square Garden Entertainment Late Thursday Announced 5.,25M Share Offering By Sphere Entertainment Priced At $31/Share
Portfolio Pulse from Charles Gross
Madison Square Garden Entertainment (MSGE) announced the pricing of a 5.25 million share offering by Sphere Entertainment at $31 per share. The shares are expected to be delivered on June 27, 2023, with a 30-day option for underwriters to purchase an additional 787,500 shares.
June 23, 2023 | 11:51 am
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MSGE's share offering by Sphere Entertainment may lead to short-term dilution of existing shares, potentially impacting the stock price.
The share offering by Sphere Entertainment will increase the number of outstanding shares of MSGE, which may lead to short-term dilution of existing shares. This could put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100