ADT shares are trading lower after the company announced the pricing of a secondary public offering of 65 million common shares at $6.50 per share.
Portfolio Pulse from Benzinga Newsdesk
ADT Inc. announced the pricing of a secondary public offering of 65 million common shares at $6.50 per share, leading to a decrease in its stock price.
March 07, 2024 | 12:25 pm
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ADT Inc. announced a secondary public offering of 65 million shares at $6.50 each, causing its stock price to drop.
Secondary offerings often lead to a dilution of existing shares, causing a negative impact on the stock price. The announcement of ADT's secondary offering at $6.50 per share, which is likely below the current market price, has led to a decrease in investor confidence and a drop in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100