SilverBow Resources Selling Stockholder Announced Upsized Equity Offering of 2.2M (Prior 1.7M) Shares
Portfolio Pulse from Benzinga Newsdesk
SilverBow Resources, Inc. (SBOW) has upsized its public offering from 1.7 million to 2.2 million shares, with an additional option for underwriters to purchase up to 330,000 extra shares. The shares are being offered by an affiliate of Strategic Value Partners, LLC.
December 12, 2023 | 7:23 am
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SilverBow Resources has increased the size of its public stock offering, which could dilute existing shareholders and potentially put downward pressure on the stock price in the short term.
The upsized offering indicates a larger than expected equity dilution for current shareholders, which typically leads to a short-term negative reaction in the stock market as supply of shares increases. The additional option for underwriters to purchase more shares could further contribute to this effect.
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