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We provide the latest news from the world of economics and finance
(RTTNews) - Portillo's Inc. (PTLO) announced the pricing of its underwritten public offering of 8 million shares of its Class A common stock .
The company expects gross proceeds of approximately $116 million from the offering, assuming the underwriters do not exercise their option to purchase additional shares.
The offering is expected to close on March 4, 2024.
The underwriter has a 30-day option to purchase up to an additional 1,200,000 shares of Class A common stock at the public offering price, less underwriting discounts and commissions.
PTLO closed Wednesday's regular trading at $15.37 down $0.53 or 3.33%. In the after-hours, the stock further dropped $0.86 or 5.60%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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