FlexShopper Files For Proposed Rights Offering In Which It Plans To Distribute To Its Stockholders Non-transferable Subscription Rights To Purchase Up To 35M Units
Portfolio Pulse from Benzinga Newsdesk
FlexShopper has announced a proposed rights offering, distributing non-transferable subscription rights to its stockholders to purchase up to 35 million units. Each unit includes one share of common stock and three short-term rights to buy additional shares at discounted prices.
October 28, 2024 | 9:09 pm
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FlexShopper is initiating a rights offering, allowing stockholders to purchase up to 35 million units, each comprising one share of common stock and three rights to buy more shares at discounted prices.
The rights offering could lead to an increase in stockholder interest due to the opportunity to purchase shares at a discount, potentially driving up demand and the stock price in the short term. However, the dilution effect of issuing new shares could counteract this, making the overall impact uncertain but leaning towards positive due to the attractive pricing.
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