Public secondary offering - 5% of total shares outstanding. When big fish sell it spooks the market. Buying at $5 has a chance to be an interesting swing trade.
Quote:
08:32 AM EDT, 09/11/2023 (MT Newswires) -- Granite Ridge Resources (GRNT) said Monday that Grey Rock Energy Management has launched an underwritten registered secondary offering of 7.1 million shares.
Underwriters have a 30-day option to buy up to about 1.1 million additional shares, the company said. Granite Ridge will not sell any common stock in the offering and will not receive any proceeds from the sale of its common stock by the Selling Shareholders in the offering.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)