Beacon Announced Pricing of Secondary Offering of 5M Shares of Common Stock; Price Not Mentioned In Press Release
Portfolio Pulse from Charles Gross
Beacon (NASDAQ:BECN) has announced the pricing of a secondary public offering of 5 million shares by CD&R Boulder Holdings, L.P., affiliated with Clayton, Dubilier & Rice, LLC. RBC Capital Markets is the sole underwriter for the offering, which is expected to close on December 11, 2023, pending customary closing conditions. The price per share was not disclosed in the press release.
December 07, 2023 | 12:53 am
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Beacon's secondary offering of 5 million shares could potentially dilute existing shareholders' equity and may lead to a short-term decrease in stock price due to increased supply.
Secondary offerings often result in dilution of existing shares, which can negatively impact the stock price in the short term. The lack of pricing information may add uncertainty among investors, potentially leading to a conservative approach until more details are revealed.
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