Delek Logistics Partners shares are trading lower after the company priced a public offering of 3,116,884 common units at $38.50 per unit.
Portfolio Pulse from Benzinga Newsdesk
Delek Logistics Partners (DKL) shares are trading lower following the announcement of a public offering of 3,116,884 common units priced at $38.50 per unit. This move has likely contributed to a decrease in share price due to the dilutive effect of the new shares on existing shareholders.
March 08, 2024 | 12:03 pm
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Delek Logistics Partners' stock is trading lower due to the pricing of a significant public offering, which tends to dilute the value of existing shares.
The announcement of a public offering and its pricing at $38.50 per unit is directly impacting Delek Logistics Partners' stock price. Public offerings often lead to dilution of existing shares, causing a negative short-term price movement. The size of the offering and the set price are critical details that influence investor perception and market reaction.
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