Hudbay Announces $300M Bought Deal Equity Offering Of 31.6M Shares At $9.50/Share
Portfolio Pulse from Benzinga Newsdesk
Hudbay Minerals Inc. has announced a $300 million bought deal equity offering, issuing 31.6 million shares at $9.50 per share.
May 21, 2024 | 8:45 pm
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Hudbay Minerals Inc. has announced a $300 million bought deal equity offering, issuing 31.6 million shares at $9.50 per share. This move is likely to dilute existing shares and could put short-term pressure on the stock price.
The issuance of new shares at a set price typically leads to dilution of existing shares, which can result in downward pressure on the stock price in the short term. The $300 million offering is substantial and will likely impact the stock price.
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