J.Jill Reveals Proposed Offering Of 2M Shares Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
J.Jill has announced a proposed offering of 2 million shares of its common stock, with 1 million shares offered by the company and 1 million shares by an affiliate of TowerBrook Capital Partners L.P. The proceeds from J.Jill's share sale will be used for debt repayment and general corporate purposes, while the company will not receive any proceeds from the shares sold by the affiliate.
June 12, 2024 | 8:06 pm
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J.Jill is offering 2 million shares of its common stock, with 1 million shares from the company and 1 million from an affiliate of TowerBrook Capital Partners. Proceeds will be used for debt repayment and general corporate purposes.
The offering of additional shares typically dilutes existing shareholders' value, which can lead to a short-term decrease in stock price. However, the use of proceeds for debt repayment could be seen as a positive long-term move.
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