Rollins, Inc shares are trading lower after the company priced a secondary stock offering of 38.7 million shares at $35/share.
Portfolio Pulse from Benzinga Newsdesk
Rollins, Inc has priced a secondary stock offering of 38.7 million shares at $35/share, leading to a decrease in its share price.
September 07, 2023 | 1:25 pm
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Rollins, Inc's share price is expected to decrease in the short term due to the secondary stock offering.
Secondary stock offerings often lead to a decrease in share price as they dilute the value of existing shares. Given that Rollins, Inc has priced its offering at $35/share, this is likely to put downward pressure on the stock in the short term.
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