Cheesecake Factory Offers 2.4M Shares For $39.47-$39.88 Each; Seeks Up To $95.7M For Share Block
Portfolio Pulse from Benzinga Newsdesk
Cheesecake Factory is offering 2.4 million shares priced between $39.47 and $39.88 each, aiming to raise up to $95.7 million.
May 16, 2024 | 8:15 pm
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Cheesecake Factory is issuing 2.4 million shares priced between $39.47 and $39.88 each, aiming to raise up to $95.7 million. This equity action could lead to short-term dilution of existing shares.
The issuance of new shares typically leads to dilution of existing shares, which can negatively impact the stock price in the short term. The offering price range is close to the current market price, indicating a potential immediate impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100