Transcat shares are trading lower after the company priced a $70 million public offering of common stock.
Portfolio Pulse from Benzinga Newsdesk
Transcat has priced a $70 million public offering of common stock, leading to a decrease in its share price.
September 21, 2023 | 12:24 pm
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NEGATIVE IMPACT
Transcat's share price is expected to be negatively impacted in the short term due to the public offering of common stock.
The company's decision to issue more shares typically dilutes the value of existing shares, leading to a decrease in share price. This is likely the reason for the observed decrease in Transcat's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100