Cardinal Infrastructure Group, Inc. (CDNL) has announced the pricing of an upsized public offering, consisting of 4 million shares of its Class A common stock priced at $73 per share.
The company expects to generate gross proceeds of approximately $292 million from the offering, prior to the deduction of underwriting discounts, commissions, and associated offering expenses.
Additionally, the company has granted underwriters a 30-day option to acquire up to an additional 600,000 shares of Class A Common Stock. Pending customary closing conditions, the offering is slated to close on June 26.
Stifel, William Blair, and Truist Securities are serving as the book-running managers for the transaction.
In Nasdaq overnight trading, shares rose 0.67 percent to $82.49, following a significant 12.66 percent gain during Wednesday’s regular trading session.
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