New Fortress Energy Reveals Two Transformative Debt And Equity Transactions Totaling Approximately $3B Upon Completion
Portfolio Pulse from Benzinga Newsdesk
New Fortress Energy announced two major financial transactions totaling approximately $3 billion. The company issued 46.349 million shares of Class A common stock at $8.63 per share, raising $400 million. CEO Wes Edens purchased $50 million worth of shares. Additionally, a Transaction Support Agreement was made with existing noteholders.
October 02, 2024 | 9:20 pm
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New Fortress Energy issued 46.349 million shares at $8.63 each, raising $400 million. CEO Wes Edens invested $50 million in this offering. The company also entered a Transaction Support Agreement with noteholders.
The issuance of new shares and the CEO's significant investment indicate confidence in the company's future, likely boosting investor sentiment. The Transaction Support Agreement suggests strategic financial restructuring, potentially improving credit outlook.
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