Reported Earlier, Armada Hoffler Announced Pricing Of An Underwritten Public Offering Of 9,000,000 Shares Of Its Common Stock For Total Gross Proceeds Of Approximately $94.5M
Portfolio Pulse from Benzinga Newsdesk
Armada Hoffler announced the pricing of an underwritten public offering of 9,000,000 shares of its common stock, aiming to raise approximately $94.5 million in gross proceeds.
September 26, 2024 | 6:48 am
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Armada Hoffler is conducting a public offering of 9 million shares, expected to raise $94.5 million. This move could lead to short-term stock price fluctuations due to increased supply.
The issuance of new shares typically increases the supply of stock, which can lead to a decrease in stock price if demand does not match the increased supply. The $94.5 million target indicates significant capital raising, which could be seen as a dilution of existing shares.
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