PACS Group Raised $101M Via Public Offering Of $2.8M Shares At $36.25/Share, Selling Stockholders Raised $499M From 13.8M Shares
Portfolio Pulse from Benzinga Newsdesk
PACS Group, Inc. announced a public offering of 16.55 million shares at $36.25 per share, raising $101 million for the company and $499 million for selling stockholders. The offering is expected to close on September 9, 2024.
September 06, 2024 | 7:01 am
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PACS Group's public offering raised $101M for the company and $499M for selling stockholders. The offering may impact stock prices due to increased share supply.
The public offering increases the supply of PACS shares, which could lead to downward pressure on the stock price in the short term. The company raised $101M, but the larger portion of shares sold by stockholders ($499M) means PACS won't benefit from those proceeds.
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