Oceaneering shares are trading lower after the company announced a private offering of $200 million of senior notes.
Portfolio Pulse from Benzinga Newsdesk
Oceaneering International, Inc. (OII) has announced a private offering of $200 million of senior notes, causing its shares to trade lower.
September 20, 2023 | 12:41 pm
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Oceaneering International's stock is trading lower after the company announced a private offering of $200 million of senior notes.
The announcement of a private offering of senior notes by Oceaneering International has led to a decrease in its stock price. This is likely due to the fact that such offerings often dilute existing shares, making them less valuable. Therefore, investors may be selling off their shares, leading to the decrease in price.
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