Veris Residential Withdraws Its Proposed Public Offering Of Shares Of Its Common Stock; Intends To Terminate Its Pending Acquisition Of 55 Riverwalk Place
Portfolio Pulse from Benzinga Newsdesk
Veris Residential has withdrawn its proposed public offering of shares of its common stock and intends to terminate its pending acquisition of 55 Riverwalk Place. No shares will be sold pursuant to the offering.
June 18, 2024 | 10:03 am
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Veris Residential has decided to withdraw its proposed public offering of common stock and terminate its acquisition of 55 Riverwalk Place. This decision means no new shares will be issued, potentially stabilizing the stock price in the short term.
The withdrawal of the public offering means that no new shares will be issued, which could prevent dilution of existing shares. Terminating the acquisition might be seen as a strategic move to preserve capital or avoid overextension. The overall impact on the stock price is likely neutral in the short term as the market digests this news.
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