Alta Equipment Reports Commencement of Public Offering Of 2M Shares Of Common Stock By An Affiliate Of B. Riley Financial
Portfolio Pulse from Benzinga Newsdesk
Alta Equipment has announced the commencement of a public offering of 2 million shares of common stock by an affiliate of B. Riley Financial. The selling stockholder will also grant the underwriters a 30-day option to purchase up to an additional 300,000 shares.
July 20, 2023 | 9:48 pm
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NEGATIVE IMPACT
Alta Equipment's public offering of 2M shares could potentially dilute the value of existing shares, potentially leading to a short-term decrease in stock price.
Public offerings often lead to dilution of existing shares, which can result in a decrease in stock price. However, the actual impact will depend on the market's reaction to the news.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
As an affiliate of B. Riley Financial is the selling stockholder in Alta Equipment's public offering, this could potentially impact B. Riley's financials depending on the success of the offering.
The impact on B. Riley Financial will depend on the success of the public offering. If the offering is successful, it could potentially bring in revenue for B. Riley. However, if the offering is not successful, it could potentially lead to losses.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70