Asure Software Raises $40M Via Secondary Offering Of 3.33M Shares At$12.00 Per Share
Portfolio Pulse from Benzinga Newsdesk
Asure Software, Inc. (NASDAQ:ASUR) has announced the pricing of a secondary public offering of 3.33 million newly issued shares at $12.00 per share, expecting to raise approximately $40 million. The company has also granted underwriters a 30-day over-allotment option to purchase up to an additional 500,000 shares. The proceeds will be used for general corporate purposes, potential acquisitions or investments, and possibly to repay outstanding debt.
August 17, 2023 | 7:42 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Asure Software's secondary public offering could dilute existing shareholders' equity, but the raised capital could strengthen the company's financial position and enable strategic investments or debt repayment.
Secondary offerings often lead to share dilution, which can negatively impact the stock price. However, the raised capital can be used to strengthen the company's financial position, potentially leading to strategic acquisitions or debt repayment, which could have a positive impact in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100