Macerich Announces Pricing of Upsized Public Offering of Common Stock
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Macerich has announced an upsized public offering of 20 million shares at $19.75 each, aiming to raise $395 million. The offering, increased from 18 million shares, is expected to close on November 27, 2024.
November 26, 2024 | 6:30 am
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Macerich has increased its public offering to 20 million shares at $19.75 per share, aiming to raise $395 million. This move could dilute existing shares but also strengthen the company's capital base.
The upsized offering increases the number of shares in the market, which can lead to dilution of existing shares, potentially putting downward pressure on the stock price in the short term. However, the raised capital could be used for growth or debt reduction, which might be beneficial in the long term.
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