Archrock Commences Public Offering Of 11M Shares Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
Archrock has commenced a public offering of 11 million shares of its common stock, with an option for underwriters to purchase an additional 1.65 million shares. The proceeds will be used to fund the acquisition of Total Operations and Production Services, LLC.
July 22, 2024 | 8:54 pm
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Archrock is issuing 11 million shares of common stock to fund its acquisition of Total Operations and Production Services, LLC. This move could dilute existing shares but aims to support growth through acquisition.
The issuance of new shares could lead to short-term dilution of existing shares, which might put downward pressure on the stock price. However, the acquisition could be beneficial for long-term growth, balancing the short-term impact.
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