Rollins Announced The Commencement Of A Proposed Secondary Public Offering Of $1.35B Of Shares Of Its Common Stock By Existing Stockholders
Portfolio Pulse from Charles Gross
Rollins, Inc. (NYSE:ROL) has announced a proposed secondary public offering of $1.35 billion of its common stock by LOR, Inc., an existing stockholder. The underwriters have a 30-day option to purchase up to an additional $202.5 million of shares. Rollins plans to repurchase approximately $300 million of the shares being offered. The offering is subject to market conditions and there is no assurance as to whether or when it may be completed.
September 06, 2023 | 9:18 pm
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Rollins, Inc. is planning a secondary public offering of its common stock. This could potentially dilute the value of existing shares, but the company's plan to repurchase some of the shares could mitigate this effect.
Secondary offerings can dilute the value of existing shares, which could negatively impact the stock price. However, Rollins' plan to repurchase some of the shares could help to offset this potential dilution. The final impact will depend on market conditions and investor reactions.
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