Armada Hoffler Properties shares are trading lower after the company announced the pricing of an underwritten offering of 9 million shares of its stock for the total proceeds of approximately $94.5 million.
Portfolio Pulse from Benzinga Newsdesk
Armada Hoffler Properties shares declined following the announcement of an underwritten offering of 9 million shares, expected to raise approximately $94.5 million.
September 26, 2024 | 12:10 pm
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Armada Hoffler Properties announced an underwritten offering of 9 million shares, leading to a decline in its stock price. The offering is expected to raise approximately $94.5 million.
The announcement of a large share offering typically leads to a decrease in stock price due to dilution concerns. The offering of 9 million shares is significant and the market reacted negatively, causing the stock to trade lower.
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