Granite Ridge Resources Prices Secondary Public Offering Of 7.1M Common Shares At $5/Share
Portfolio Pulse from Benzinga Newsdesk
Granite Ridge Resources has priced its secondary public offering of 7.1 million common shares at $5 per share.
September 13, 2023 | 5:56 am
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Granite Ridge Resources' secondary public offering of 7.1 million shares at $5 per share could dilute existing shareholders' equity.
Secondary public offerings often lead to dilution of existing shareholders' equity, which can put downward pressure on the stock price. Given that Granite Ridge Resources is directly issuing 7.1 million new shares, this could potentially impact the stock negatively in the short term.
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