Reported Earlier, Civitas Resources Prices Secondary Public Offering Of 6,956,520 Common Stock By An Affiliate Of Canada Pension Plan Investment Board At $73.80/Share
Portfolio Pulse from Benzinga Newsdesk
Civitas Resources has priced a secondary public offering of 6,956,520 common stock by an affiliate of the Canada Pension Plan Investment Board at $73.80 per share.
May 16, 2024 | 6:37 am
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Civitas Resources has announced a secondary public offering of 6,956,520 shares at $73.80 per share by an affiliate of the Canada Pension Plan Investment Board. This could lead to short-term downward pressure on the stock price due to the increased supply of shares in the market.
The secondary public offering increases the supply of Civitas Resources' shares in the market, which typically leads to downward pressure on the stock price in the short term. The offering price of $73.80 per share may also set a near-term price ceiling.
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