Beacon Prices Secondary Offering Of 5,218,134 Common Shares
Portfolio Pulse from Benzinga Newsdesk
Beacon (BECN) has priced its secondary public offering of 5,218,134 common shares, which are being sold 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 January 22, 2024, subject to customary closing conditions.
January 19, 2024 | 7:31 am
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Beacon has announced the pricing of a secondary offering of over 5 million shares by an affiliate of Clayton, Dubilier & Rice, with RBC Capital Markets as the underwriter.
Secondary offerings often lead to a dilution of existing shares, which can result in downward pressure on the stock price in the short term. Investors may react negatively to the increase in the number of shares available, especially if they perceive the offering as a sign that major shareholders are looking to reduce their positions.
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