Restaurant Brands International Receives Exchange Notice From 3G Capital Affiliate For 6.53M Exchangeable Units; Units To Be Exchanged For Equal Number Of RBI Common Shares; Selling Shareholder Commences Public Offering Of Up To 6.53M Common Shares
Portfolio Pulse from Benzinga Newsdesk
Restaurant Brands International (RBI) has received an exchange notice from a 3G Capital affiliate for 6.53 million exchangeable units, which will be exchanged for an equal number of RBI common shares. The selling shareholder has commenced a public offering of up to 6.53 million common shares, with settlement expected by August 30, 2024.
August 12, 2024 | 8:09 pm
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Restaurant Brands International (QSR) is set to exchange 6.53 million units for common shares and commence a public offering of these shares. This could lead to short-term volatility in QSR's stock price.
The exchange of units for common shares and the subsequent public offering could lead to an increase in the supply of QSR shares in the market, potentially putting downward pressure on the stock price in the short term.
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