PTC Prices Public Secondary Offering Of 5,830,905 Common Shares By Rockwell Automation At $141.75/Share
Portfolio Pulse from Benzinga Newsdesk
PTC has priced a public secondary offering of 5,830,905 common shares at $141.75 per share. The shares were sold by Rockwell Automation.
August 04, 2023 | 10:40 am
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PTC has priced a public secondary offering of 5,830,905 common shares at $141.75 per share.
The secondary offering could increase the supply of PTC shares in the market, potentially putting downward pressure on the stock price. However, the pricing of the offering at $141.75 per share indicates a strong demand for the shares, which could offset the potential downward pressure.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Rockwell Automation sold 5,830,905 common shares of PTC in a public secondary offering.
The sale of PTC shares by Rockwell Automation could indicate a strategic shift or a need for liquidity. However, without further information, the impact on Rockwell Automation's stock price is uncertain.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70