Tanger Factory Outlet Centers Entered Into "At-The-Market" Equity Offering Sales Deal Dated As Of Dec 6, May Sell, Offer Shares Of Up To $250M
Portfolio Pulse from Benzinga Newsdesk
Tanger Factory Outlet Centers has entered into an 'At-The-Market' equity offering sales agreement as of December 6, according to an SEC filing. The company may sell or offer shares up to a value of $250 million.
December 06, 2023 | 1:54 pm
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Tanger Factory Outlet Centers may potentially dilute current shareholders by offering new shares worth up to $250 million.
The announcement of an 'At-The-Market' equity offering typically suggests potential dilution for existing shareholders, which can lead to a short-term negative impact on the stock price. The size of the offering, $250 million, is significant and could lead to a material increase in the number of shares outstanding. However, the actual impact will depend on investor perception of the company's growth prospects and the use of proceeds from the offering.
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