Starbox Group Holdings Files For Offering Of Up To 81.5M Class A Ordinary Shares By Selling Shareholders
Portfolio Pulse from Benzinga Newsdesk
Starbox Group Holdings has filed for an offering of up to 81.5 million Class A ordinary shares by selling shareholders, according to an SEC filing.
July 17, 2024 | 8:39 pm
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Starbox Group Holdings has filed for an offering of up to 81.5 million Class A ordinary shares by selling shareholders. This could lead to a dilution of existing shares and potential downward pressure on the stock price in the short term.
The filing for a large offering of shares by selling shareholders typically leads to dilution of existing shares, which can result in downward pressure on the stock price. Investors may react negatively to the increased supply of shares in the market.
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