Civitas Resources Announces Offering And Resale By Selling Stockholders Of Up To 13.5M Shares
Portfolio Pulse from Benzinga Newsdesk
Civitas Resources has announced an offering and resale by selling stockholders of up to 13.5 million shares. The company has not disclosed the price at which the shares will be sold.
October 10, 2023 | 8:39 pm
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Civitas Resources' announcement of an offering and resale of up to 13.5 million shares could potentially dilute existing shareholders' equity, which may negatively impact the stock price in the short term.
The announcement of a new share offering typically leads to a dilution of existing shareholders' equity, which can result in a decrease in the stock's price. However, the actual impact will depend on the price at which the new shares are sold, which has not been disclosed yet.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100