Core & Main Announces Launch Of Secondary Public Offering Of 19M Shares By Certain Selling Stockholders; Plans Concurrent Share Repurchase Of 3.1M Shares
Portfolio Pulse from Benzinga Newsdesk
Core & Main has announced the launch of a secondary public offering of 19 million shares by certain selling stockholders. The company also plans a concurrent share repurchase of 3.1 million shares.
November 06, 2023 | 9:41 pm
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NEUTRAL IMPACT
Core & Main's secondary public offering and concurrent share repurchase could impact the company's stock price.
The secondary public offering will increase the number of shares available in the market, which could potentially dilute the value of existing shares. However, the concurrent share repurchase could offset this by reducing the number of shares in circulation. The net effect on the stock price is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100