Reported Earlier, J.Jill Prices Public Offering Of 2M Common Stock At $31/Share
Portfolio Pulse from Benzinga Newsdesk
J.Jill has priced a public offering of 2 million common stock shares at $31 per share. The company and its largest stockholder, TowerBrook Capital Partners L.P., are each offering 1 million shares. The offering is expected to close on June 14, 2024, and J.Jill plans to use the proceeds for debt repayment and general corporate purposes.
June 13, 2024 | 6:29 am
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J.Jill has announced a public offering of 2 million shares at $31 per share, with the proceeds to be used for debt repayment and general corporate purposes. The offering is expected to close on June 14, 2024.
The issuance of new shares typically dilutes existing shareholders' equity, 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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