Beacon Reports Commencement Of Secondary Public Offering Of 5M Shares By CD&R Boulder Holdings
Portfolio Pulse from Benzinga Newsdesk
Beacon has announced that CD&R Boulder Holdings, a selling stockholder, has initiated a secondary public offering of 5 million shares. Additionally, the underwriter has been granted a 30-day option to buy up to 750,000 more shares. Post-offering, CD&R will retain 5,218,134 shares, or 4,468,134 if the underwriter's option is fully exercised.
December 06, 2023 | 9:24 pm
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Beacon's stock may experience increased volatility and potential downward pressure due to the secondary public offering of 5 million shares by CD&R Boulder Holdings.
Secondary public offerings often lead to a dilution of existing shares, which can result in downward pressure on the stock price in the short term. The market may react to the increased availability of shares and the potential for the underwriter to purchase additional shares, which could further impact the stock price.
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