Fluor Announces Full Mandatory Conversion Of Series A 6.50% Cumulative Perpetual Convertible Preferred Stock; For Each Preferred Stock, Holders Of Preferred Stock Will Receive 44.9585 Shares And A Cash Payment Of $45.23
Portfolio Pulse from Benzinga Newsdesk
Fluor Corporation has announced the full mandatory conversion of its Series A 6.50% Cumulative Perpetual Convertible Preferred Stock. Each holder of the preferred stock will receive 44.9585 shares and a cash payment of $45.23.
September 25, 2023 | 10:52 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Fluor Corporation's mandatory conversion of its preferred stock could potentially dilute the value of its common shares in the short term.
The conversion of preferred stock into common shares increases the number of outstanding shares. This could dilute the value of existing common shares, potentially leading to a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100