Granite Ridge Resources, Inc Launches Secondary Public Offering of 7.1M Shares by Selling Stockholders
Portfolio Pulse from Benzinga Newsdesk
Granite Ridge Resources, Inc. (NYSE:GRNT) has announced the launch of a secondary public offering of 7.1 million shares by Grey Rock Energy Management, LLC. The underwriters have a 30-day option to purchase up to an additional 1,065,000 shares. Granite Ridge will not sell any common stock in the offering and will not receive any proceeds from the sale.
September 11, 2023 | 10:57 am
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Granite Ridge Resources is launching a secondary public offering of 7.1 million shares, which could potentially dilute the value of existing shares.
Secondary public offerings often lead to a dilution of the value of existing shares as the number of shares in circulation increases. This could potentially lead to a decrease in Granite Ridge's stock price in the short term.
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