Shares of PennantPark Floating Rate Capital Ltd. (PFLT) are falling more than 7% Tuesday morning after the company announced its decision to sell 4.25 million shares at $11.20 per share.
The Company expects to use the net proceeds from the offering of about $47.6 million to reduce outstanding obligations and for other general corporate or strategic purposes.
The shares are expected to be delivered on January 26, 2023.
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