Why BlackSky Technology (BKSY) Stock Is Down 20% Today
Portfolio Pulse from Henry Khederian
BlackSky Technology (BKSY) shares dropped 16.9% to $4.19 after announcing a $40 million public offering of 10 million shares at $4.00 each. The offering is expected to close around September 26, with an option for underwriters to purchase an additional 1.5 million shares.
September 25, 2024 | 3:40 pm
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BlackSky Technology's stock fell 16.9% following the announcement of a $40 million public offering at $4.00 per share. The offering is expected to close around September 26, with an option for underwriters to purchase an additional 1.5 million shares.
The announcement of a public offering at a price lower than the current trading price typically leads to a decrease in stock value due to dilution concerns. The offering price of $4.00 is below the current trading price of $4.19, causing the stock to drop 16.9%.
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