Why CSW Industrials Stock Is Getting Hammered Thursday
Portfolio Pulse from Henry Khederian
CSW Industrials (NASDAQ:CSWI) stock fell 10.3% after increasing its public offering size to 1.1 million shares at $285 each, generating $313.5 million in gross proceeds. The funds will primarily repay debt and support potential acquisitions.
September 05, 2024 | 4:16 pm
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CSW Industrials' stock declined 10.3% after the company increased its public offering size to 1.1 million shares at $285 each, raising $313.5 million. The proceeds will be used to repay debt and for potential acquisitions.
The increase in the public offering size likely diluted existing shares, leading to a 10.3% drop in CSWI's stock price. The raised funds are intended for debt repayment and potential acquisitions, which could be positive long-term but are causing short-term pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100