Phillips Edison & Company (PECO) has released an update.
Phillips Edison & Company has launched a continuous offering program to sell up to $250 million worth of common stock through a consortium of financial institutions, including Morgan Stanley and Goldman Sachs. The stock sales will occur on the Nasdaq via various transaction types, including at-the-market offerings. The company has the flexibility to suspend sales or sell shares directly to the institutions at agreed prices. Additionally, forward sale agreements may be used to hedge the institutions’ exposure, with the company planning to use the proceeds for corporate purposes such as repaying debt or funding acquisitions.
For further insights into PECO stock, check out TipRanks’ Stock Analysis page.
