Atlantic Union Bankshares Prices Public Offering Of 9.86M Shares Of Its Common Stock At $35.50 Per Share, For Aggregate Offering Amount Of $350M
Portfolio Pulse from Benzinga Newsdesk
Atlantic Union Bankshares has announced a public offering of 9.86 million shares at $35.50 per share, aiming to raise $350 million. The net proceeds are expected to be approximately $336 million, excluding expenses.
October 21, 2024 | 10:26 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Atlantic Union Bankshares is conducting a public offering of 9.86 million shares at $35.50 per share, with expected net proceeds of $336 million. This move could impact the stock price due to dilution and market perception.
The public offering of shares typically leads to dilution, which can negatively impact the stock price in the short term. The market's perception of the use of proceeds and the company's future prospects will also play a role in the stock's movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100