Why Shift4 Payments Dived by 7.4% on Friday
Shift4 Payments (NYSE: FOUR), which has been a standout performer since its June IPO, didn't have a good Friday. The company's stock downshifted on the pricing of a fresh round of equity financing.
Shift4 Payments is selling 2 million shares of Class A common stock in a public offering at $48.50 apiece. The issue's underwriters have a 30-day option to purchase up to a collective 1.5 million additional shares.
A group of existing stockholders will concurrently unload 8 million of their shares at the same price.
Source Fool.com
