Turning Point Brands (TPB) shares fell 4.3% in recent Friday trading after the company announced plans to offer $100 million in stock at the market with B. Riley Securities and Barclays Capital as sales agents.
Turning Point may sell almost 1.58 million shares at an assumed price of $63.45 apiece. The funds will be for general corporate purposes, including expanding manufacturing of the white nicotine pouch brand, the company said Friday in a regulatory filing.
Price: 59.75, Change: -2.66, Percent Change: -4.26
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments