Torrid Holdings Launches Secondary Offering Of 8M Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Torrid Holdings Inc. has announced a secondary offering of 8 million shares of common stock by certain stockholders. The company will not receive any proceeds from this sale. The offering includes a 30-day option for underwriters to purchase an additional 1.2 million shares.
September 11, 2024 | 12:56 pm
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Torrid Holdings Inc. is conducting a secondary offering of 8 million shares, which may lead to short-term stock price fluctuations. The company will not benefit financially from this offering as the proceeds go to existing stockholders.
The secondary offering increases the supply of shares in the market, which can lead to a decrease in stock price due to dilution concerns. Since Torrid will not receive any proceeds, there is no direct financial benefit to the company, which may also contribute to a negative short-term impact on the stock price.
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