Sunrun shares are trading lower after the company announced pricing of an offering of $475 million of convertible senior notes.
Portfolio Pulse from Benzinga Newsdesk
Sunrun announced the pricing of a $475 million offering of convertible senior notes, leading to a decrease in its share price.
February 23, 2024 | 8:51 pm
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Sunrun's announcement of a $475 million convertible senior notes offering has led to a decrease in its share price.
Convertible senior notes offerings often lead to concerns about dilution among existing shareholders, which can cause a short-term decrease in share price. Given the size of the offering, it's reasonable to expect a negative impact on Sunrun's stock in the short term.
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