16 Dec 2016capital raising announcement▲ GoodMajor
The December 12 share sale closed (stated here as 25,041,041 shares at $18.25), raising about $457 million gross and about $442 million after commissions and expenses. The company must file a resale registration (Form S-1) within 30 days of closing so the buyers can sell the shares.
What it means for a shareholder
25.0m new shares at $18.25 to raise about $457m. That's 15% dilution: every existing holder's slice gets 15% smaller. If you held $1,000 of shares (55 at the issue price), your slice goes from 0.0000373% to 0.0000319% of the company. To keep it you'd need 9 more shares - about $164 at the issue price.
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