Earthstone Energy, Inc. Announces Warburg Pincus LLC And Its Affiliates Recently Sold Its Remaining 12.9M Shares Of Earthstone's Class A Common Stock
Portfolio Pulse from Happy Mohamed
Earthstone Energy, Inc. (ESTE) announced that Warburg Pincus LLC and its affiliates have sold their remaining 12.9 million shares of Earthstone's Class A common stock. With this sale, Warburg Pincus no longer holds any shares of Earthstone's Class A or Class B common stock. The recent stock sale will increase Earthstone's float by approximately 25%, which is expected to positively impact the company's stock trading liquidity.
August 07, 2023 | 9:08 pm
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Warburg Pincus has sold its remaining shares in Earthstone Energy, which is expected to increase the company's float by 25% and improve its stock trading liquidity.
The sale of Warburg Pincus' remaining shares in Earthstone Energy will increase the company's float, which is the number of shares available for trading. An increase in float can improve liquidity, making it easier for investors to buy and sell the stock without significantly impacting its price. This could potentially make the stock more attractive to investors, potentially driving up the price in the short term.
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