Atlanta Braves Holdings, Inc. Announces Launch Of Secondary Public Offering Of 1,811,066 Shares Of Its Series C Common Stock
Portfolio Pulse from Benzinga Newsdesk
Atlanta Braves Holdings, Inc. (NASDAQ:BATRA, BATRK) has announced a secondary public offering of 1,811,066 shares of its Series C common stock currently held by Liberty Media Corporation. Liberty Media plans to exchange the shares for its own indebtedness held by an affiliate of J.P. Morgan Securities LLC, who will then sell the shares to the underwriter in the offering. Atlanta Braves Holdings is not selling any shares and will not receive any proceeds from the sale.
November 06, 2023 | 10:50 pm
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NEUTRAL IMPACT
The secondary public offering of Atlanta Braves Holdings' shares held by Liberty Media could potentially impact the stock price of BATRA in the short term.
Secondary public offerings often lead to a dilution of shares, which can put downward pressure on the stock price. However, as the shares are being exchanged for Liberty Media's indebtedness, the impact on BATRA's stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
The secondary public offering of Atlanta Braves Holdings' shares held by Liberty Media could potentially impact the stock price of BATRK in the short term.
Secondary public offerings often lead to a dilution of shares, which can put downward pressure on the stock price. However, as the shares are being exchanged for Liberty Media's indebtedness, the impact on BATRK's stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100