Iris Energy Ltd Says Entered Into At Market Issuance Sales Agreement To Offer Up To $300M Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Iris Energy Ltd has entered into an at-market issuance sales agreement to offer up to $300 million of common stock, according to an SEC filing.
September 26, 2023 | 12:50 pm
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Iris Energy's decision to offer up to $300 million of common stock could dilute existing shares, potentially leading to a short-term decrease in stock price.
The issuance of new shares often leads to dilution of existing shares, which can result in a decrease in the stock price. However, the impact may be offset if the funds raised are used effectively to generate growth.
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