Gates Industrial Reports Pricing Of Previously Announced Secondary Offering Of 15M Ordinary Shares By Certain Selling Stockholders Affiliated With Blackstone At $11.75 Per Share
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial has announced the pricing of a secondary offering of 15 million ordinary shares by certain selling stockholders affiliated with Blackstone at $11.75 per share.
August 09, 2023 | 11:23 am
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Gates Industrial's secondary offering of 15 million shares at $11.75 per share could potentially dilute existing shareholders' equity.
Secondary offerings often lead to dilution of existing shareholders' equity, which can put downward pressure on the stock price. Given that the shares are being sold by Blackstone affiliates, this could also signal a lack of confidence in the company's future prospects.
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