GFL Environmental Announces Issuance Of 16M Subordinate Voting Shares On Conversion Of 14,565,543 Series A Preferred Shares; Subordinate Voting Shares Issued On Conversion Of The Series A Preferred Shares Were Sold By Funds Managed By HPS In A Block Trade, At A Price Of $39.60/Share
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GFL Environmental Inc. announced the conversion of 14,565,543 Series A Preferred Shares into 16 million subordinate voting shares, which were sold by HPS Investment Partners in a block trade at $39.60 per share.
September 12, 2024 | 12:57 pm
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NEUTRAL IMPACT
GFL Environmental converted 14.57 million Series A Preferred Shares into 16 million subordinate voting shares, sold by HPS at $39.60 each. This conversion and sale could impact GFL's stock liquidity and market perception.
The conversion of preferred shares into subordinate voting shares increases the number of shares available in the market, which can affect liquidity and potentially the stock price. However, the block trade sale at a set price suggests a neutral short-term impact on the stock price.
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