GFL Environmental Inc. Announces Secondary Offering Of 17M Subordinate Voting Shares By Selling Shareholders
Portfolio Pulse from Benzinga Newsdesk
GFL Environmental Inc. announced a secondary offering of 17 million subordinate voting shares by selling shareholders including BCEC GFL Borrower (Cayman) LP, Ontario Teachers' Pension Plan Board, and others. GFL will not receive any proceeds from this offering. The shares will be offered in Canada and the U.S., with RBC Capital Markets, LLC and RBC Dominion Securities Inc. acting as underwriters.
February 28, 2024 | 10:14 pm
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NEUTRAL IMPACT
GFL Environmental Inc. is involved in a secondary offering of 17M shares by its shareholders, not benefiting financially from the sale.
The secondary offering of shares by GFL's shareholders does not directly impact the company's financials as it will not receive any proceeds. However, such offerings can influence market perception and potentially dilute share value, making the impact neutral in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100