Beacon Reports Commencement Of Secondary Public Offering Of 5.218M Shares By Selling Stockholder CD&R
Portfolio Pulse from Benzinga Newsdesk
Beacon has announced the commencement of a secondary public offering of 5.218 million shares by its selling stockholder, CD&R. After the completion of this offering, CD&R will no longer hold any shares of Beacon's common stock.
January 18, 2024 | 9:15 pm
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Beacon's stock may experience increased volatility and potential downward pressure due to the secondary public offering of 5.218 million shares by CD&R.
Secondary public offerings often lead to short-term price declines due to the increase in available supply of shares. As CD&R is selling all of its holdings, this could be viewed negatively by the market, potentially leading to a decrease in Beacon's stock price in the short term.
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