Cardlytics shares are trading lower after the company entered an Equity Distribution Agreement pursuant to which the Company may issue and sell, from time to time up to $50 million.
Portfolio Pulse from Benzinga Newsdesk
Cardlytics shares are trading lower after the company announced an Equity Distribution Agreement, allowing it to issue and sell up to $50 million worth of shares from time to time.
March 18, 2024 | 3:28 pm
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NEGATIVE IMPACT
Cardlytics shares are trading lower due to the announcement of an Equity Distribution Agreement, which could dilute current shareholders' value by allowing the issuance and sale of up to $50 million in shares.
The announcement of the Equity Distribution Agreement by Cardlytics is directly impacting its stock price negatively in the short term due to concerns over potential shareholder dilution. The ability to issue and sell up to $50 million worth of shares could increase the supply of shares, potentially lowering their value.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100