Navigator Gas Prices Upsized Secondary Public Offering of 7M Shares by Selling Shareholder at $15/Share
Portfolio Pulse from Benzinga Newsdesk
Navigator Holdings Ltd. (NYSE:NVGS) announced the upsize and pricing of a secondary public offering of 7 million shares by BW Group Limited at $15 per share. The offering is expected to close around June 13, 2024, subject to customary closing conditions.
June 12, 2024 | 11:37 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Navigator Holdings Ltd. (NYSE:NVGS) has announced an upsized secondary public offering of 7 million shares by BW Group Limited at $15 per share. This could lead to short-term downward pressure on NVGS stock due to the increased supply of shares.
The secondary offering increases the supply of NVGS shares in the market, which can lead to downward pressure on the stock price in the short term. The offering price of $15 per share may also set a near-term price ceiling.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100