Karat Packaging shares are trading lower after the company priced a 1 million share secondary offering at $21 per share.
Portfolio Pulse from Benzinga Newsdesk
Karat Packaging has priced a secondary offering of 1 million shares at $21 per share, leading to a decrease in its stock price.
September 08, 2023 | 5:26 pm
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Karat Packaging's stock price is trading lower after the company priced a secondary offering of 1 million shares at $21 per share.
The company's decision to price a secondary offering at $21 per share has led to an increase in supply of shares, which has put downward pressure on the stock price. This is a common reaction in the market to secondary offerings, especially if the offering price is lower than the current trading price.
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