Aurora Announces Pricing Of $220M Upsized Public Offering Of 73,333,333 Shares Of Its Class A Common Stock At $3/Share
Portfolio Pulse from Benzinga Newsdesk
Aurora has announced the pricing of its upsized public offering of 73,333,333 shares of its Class A common stock at $3 per share. The company expects to receive total gross proceeds of approximately $820 million from the public offering and concurrent private placement.
July 19, 2023 | 12:10 pm
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Aurora's upsized public offering could lead to a dilution of shares, potentially impacting the stock price negatively in the short term.
Aurora's upsized public offering increases the number of shares in circulation, which could dilute the value of existing shares. This could lead to a decrease in the stock price in the short term. However, the funds raised could be used for growth initiatives, which could have a positive impact in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100