Reported Nov 7, Sempra Announces Pricing Of Public Offering Of 17,142,858 Shares Of Its Common Stock At A Price Of $70/Share
Portfolio Pulse from Benzinga Newsdesk
Sempra (NYSE: SRE) has priced its public offering of 17,142,858 shares of its common stock at $70 per share. The offering is expected to close on November 10, 2023. The underwriters have an option to purchase up to an additional 2,571,428 shares from Sempra. Morgan Stanley and Citigroup are the joint bookrunners of the offering.
November 08, 2023 | 3:40 pm
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Sempra's public offering of over 17 million shares at $70 per share could dilute existing shareholders' equity. However, it could also provide the company with significant capital for future investments.
The public offering could dilute the value of existing shares, potentially leading to a short-term decrease in stock price. However, the capital raised could be used for future investments, which could potentially increase the company's value in the long term.
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