CORRECTION: Chesapeake Utilities Announces $330M Public Offering Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
Chesapeake Utilities has announced a $330 million public offering of its common stock.
November 09, 2023 | 2:27 pm
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Chesapeake Utilities is raising $330 million through a public offering of its common stock, which could dilute existing shares.
Public offerings often lead to dilution of existing shares, which can negatively impact the stock price in the short term. However, the raised capital could be used for beneficial company initiatives, potentially offsetting the initial negative impact in the long term.
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