Turning Point Shares After $100 Million Share Offering Announced

MT Newswires Live

2024-12-14

Turning Point Brands (TPB) shares fell 4.3% in recent Friday trading after the company announced plans to offer $100 million in stock at the market with B. Riley Securities and Barclays Capital as sales agents.

Turning Point may sell almost 1.58 million shares at an assumed price of $63.45 apiece. The funds will be for general corporate purposes, including expanding manufacturing of the white nicotine pouch brand, the company said Friday in a regulatory filing.

Price: 59.75, Change: -2.66, Percent Change: -4.26

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Riley Securities and Barclays Capital as sales agents.</p><p>Turning Point may sell almost 1.58 million shares at an assumed price of $63.45 apiece. 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