PagerDuty shares are trading lower after the company announced a proposed private placement of $350 million of convertible senior notes.
Portfolio Pulse from Benzinga Newsdesk
PagerDuty announced a proposed private placement of $350 million of convertible senior notes, causing its shares to trade lower.
October 09, 2023 | 8:17 pm
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PagerDuty's stock price is trading lower due to the announcement of a proposed private placement of $350 million of convertible senior notes.
The announcement of a private placement of convertible senior notes often leads to a dilution of existing shares, which can cause a decrease in the stock price. This is likely the reason for PagerDuty's stock trading lower.
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