Box, Inc shares are trading lower. The company proposed a $400 million private offering of convertible senior notes due 2029 with an additional $60 million option.
Portfolio Pulse from Benzinga Newsdesk
Box, Inc shares are declining following the announcement of a $400 million private offering of convertible senior notes due 2029, with an additional $60 million option.
September 16, 2024 | 8:25 pm
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Box, Inc shares are trading lower after the company announced a $400 million private offering of convertible senior notes due 2029, with an additional $60 million option. This move may be seen as a way to raise capital, potentially diluting existing shares.
The announcement of a convertible notes offering often leads to a decline in stock price due to potential dilution of existing shares. The $400 million offering, with an additional $60 million option, suggests significant capital raising, which can impact investor sentiment negatively in the short term.
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