Merchants Bancorp shares are trading lower after the company priced a 2.4 million share offering at $43 per share.
Portfolio Pulse from Benzinga Newsdesk
Merchants Bancorp's stock is trading lower following the announcement of a 2.4 million share offering priced at $43 per share.
May 14, 2024 | 11:09 am
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Merchants Bancorp's share price has declined following the pricing of a 2.4 million share offering at $43 per share, indicating a potential dilution of existing shares.
The announcement of a new share offering typically leads to concerns about dilution of existing shares, which can cause the stock price to drop in the short term. The specific pricing of the offering at $43 per share and the size of the offering (2.4 million shares) are directly impacting investor sentiment towards MBIN.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100