Reported Earlier, REV Group Prices Secondary Offering Of 7,395,191 Common Stock At $18/Share
Portfolio Pulse from Benzinga Newsdesk
REV Group has priced a secondary offering of 7,395,191 shares of common stock at $18 per share. The offering is solely comprised of shares sold by Selling Stockholders, meaning REV Group will not receive any proceeds from this sale. The offering is anticipated to close on March 15, 2024, pending customary closing conditions.
March 14, 2024 | 7:26 am
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REV Group's secondary offering involves 7,395,191 shares at $18 each, not benefiting the company financially as proceeds go to Selling Stockholders. Closing is set for March 15, 2024.
Secondary offerings often lead to dilution of existing shares, potentially causing a short-term negative impact on the stock price. Since the proceeds do not benefit the company but rather the selling shareholders, there's no direct financial gain for REVG, which could be viewed unfavorably by investors.
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