Carvana Entered Into Distribution Agreement With Citigroup, Moelis Relating To Offering Of Up To $1B Of Class A Common Stock
Portfolio Pulse from Benzinga Newsdesk
Carvana has entered into a distribution agreement with Citigroup and Moelis for the offering of up to $1B of Class A common stock.
July 19, 2023 | 11:51 am
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Carvana's agreement with Citigroup and Moelis for a $1B stock offering could potentially dilute existing shares, impacting the stock price.
The announcement of a large stock offering like this can often lead to a short-term drop in the stock price due to the potential dilution of existing shares. However, the long-term impact will depend on how the raised capital is used.
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