Terreno Realty Prices Upsized Equity Offering Of 5.5M Common Shares At $62/Share
Portfolio Pulse from Benzinga Newsdesk
Terreno Realty has upsized its public equity offering to 5.5 million shares at $62 each, with an option for underwriters to buy an additional 825,000 shares. The offering, initially set at 5 million shares, is expected to close on March 27, 2024.
March 26, 2024 | 5:33 am
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Terreno Realty's upsized equity offering could dilute existing shareholders but also raise significant capital for the company.
The upsizing of Terreno Realty's equity offering could lead to short-term negative sentiment due to potential dilution of existing shares. However, the capital raised could be beneficial for the company's long-term growth and investment opportunities. The immediate market reaction might lean towards a negative perception of dilution, impacting the stock price negatively in the short term.
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IMPORTANCE 75
RELEVANCE 100