Reported Earlier, StepStone Prices Secondary Offering Of 4,099,997 Shares At $50/Share
Portfolio Pulse from Benzinga Newsdesk
StepStone has priced a secondary offering of 4,099,997 shares at $50 per share. The proceeds will be used to purchase shares from certain holders and pay cash upon exchange of units, resulting in no dilution to existing stockholders.
September 10, 2024 | 7:30 am
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NEUTRAL IMPACT
StepStone's secondary offering of 4,099,997 shares at $50/share will not result in dilution for existing stockholders as proceeds are used for purchasing shares and unit exchanges.
The offering is structured to avoid dilution by using proceeds to purchase shares and pay for unit exchanges. This neutral impact on existing stockholders suggests stability in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100