International Seaways Said May Offer, Sell Common Shares Having An Aggregate Offering Price Of Up To $100M From Time To Time
Portfolio Pulse from Charles Gross
International Seaways (INSW) may offer and sell common shares up to an aggregate offering price of $100 million from time to time, according to a recent 424B5 filing.
December 20, 2023 | 10:22 pm
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International Seaways may periodically sell common shares up to $100 million, which could lead to share dilution and affect the stock price.
The announcement of a potential sale of common shares up to $100 million by International Seaways suggests that the company is looking to raise capital. This could lead to dilution of existing shares, which typically puts downward pressure on the stock price in the short term as the market anticipates an increase in the number of shares outstanding.
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