Arhaus Reports Pricing Of Selling Shareholders' Equity Offering At $10 Per Share
Portfolio Pulse from Shivani Kumaresan
Arhaus Inc (NASDAQ:ARHS) has priced its underwritten public offering of 12 million shares at $10 per share, an 18% discount to the company's closing price as of August 15, 2023. The offering, expected to close on August 21, 2023, is by certain selling stockholders affiliated with Freeman Spogli & Co. The stockholders have also granted underwriters a 30-day option to purchase up to an additional 1.8 million shares. Arhaus will not receive any proceeds from the offering.
August 17, 2023 | 10:36 am
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Arhaus's stock price may be negatively impacted in the short term due to the discounted pricing of the public offering. The company will not receive any proceeds from the offering, which could limit its financial flexibility.
The discounted pricing of the public offering could put downward pressure on Arhaus's stock price in the short term. Additionally, the fact that the company will not receive any proceeds from the offering could limit its financial flexibility, which could also negatively impact the stock price.
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