On Wednesday June 5, 2024, CAVA Group's Largest Shareholder Artal International S.C.A. Filed A Notice With The SEC Regarding An Order To Sell 3M Shares Following A Conversion Of Series E Preferred Stock Into Common Stock
Portfolio Pulse from Benzinga Newsdesk
On June 5, 2024, CAVA Group's largest shareholder, Artal International S.C.A., filed a notice with the SEC to sell 3 million shares following the conversion of Series E preferred stock into common stock.
June 06, 2024 | 2:42 pm
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Artal International S.C.A., the largest shareholder of CAVA Group, has filed a notice with the SEC to sell 3 million shares after converting Series E preferred stock into common stock.
The sale of 3 million shares by the largest shareholder could lead to a short-term decrease in CAVA's stock price due to increased supply in the market. Investors may perceive this as a lack of confidence from a major stakeholder.
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