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 has announced a proposed private placement of $350 million of convertible senior notes, causing its shares to trade lower.
October 10, 2023 | 12:43 pm
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PagerDuty's stock is trading lower following the announcement of a proposed private placement of $350 million of convertible senior notes.
The announcement of a large private placement of convertible senior notes often leads to a decrease in share price due to potential dilution of existing shares. This is likely the reason for the drop in PagerDuty's stock price.
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