America's Car-Mart Intends To Offer And Sell $65M Of Shares Of Common Stock In Public Offering
Portfolio Pulse from Benzinga Newsdesk
America's Car-Mart plans to offer $65M in common stock, with an option for underwriters to purchase an additional $9.75M. Proceeds will repay credit facilities and support general corporate purposes.
September 18, 2024 | 8:13 pm
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America's Car-Mart is offering $65M in common stock, with an option for an additional $9.75M. The proceeds will be used to repay credit facilities and for general corporate purposes.
The announcement of a stock offering typically leads to a short-term decrease in stock price due to dilution concerns. However, using proceeds to repay debt can be seen positively in the long term.
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