Intel Sold $20 Billion of Stock at $95 a Share. It Now Trades Below $93.
Anyone still holding shares from the $20 billion stock sale that priced on Aug. 10 is down on the trade. What would it take to get them back to even?
Overview
Intel (NASDAQ:INTC) set out to raise $15 billion on Aug. 10. Demand was strong enough that the offering priced at $20 billion the same day -- 210.5 million new shares at $95 each.
The deal then grew once more. Underwriters exercised their option to purchase additional shares in full on Aug. 11, taking the total to about 242 million shares and about $23 billion in all.
Details
Eleven days later, the stock trades below the price all of that money paid. Shares closed Thursday at $92.13, their second straight finish under $93.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.