Why Dorian (LPG) Shares Are Falling During Thursday's Session
Portfolio Pulse from Henry Khederian
Dorian LPG Ltd (NYSE:LPG) shares fell by 9.2% to $45.66 after the company announced a public offering of 2 million common shares at $44.50 per share. The proceeds will be used for general corporate purposes. The company has also granted underwriters a 30-day option to purchase an additional 300,000 shares.
June 06, 2024 | 2:49 pm
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Dorian LPG shares fell by 9.2% to $45.66 after the company announced a public offering of 2 million common shares at $44.50 per share. The net proceeds will be used for general corporate purposes. The offering has led to a short-term decline in the stock price due to dilution concerns.
The announcement of a public offering typically leads to a decline in stock price due to dilution concerns. The offering price of $44.50 is below the current trading price, which further pressures the stock downward.
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