Market Overview

StoneMor Partners Falls 3%, Company Announces Public Offering

Share:

Shares of StoneMor Partners L.P. (NYSE: STON), an owner and operator of cemeteries and funeral homes, were trading lower by nearly 3 percent Friday morning at $23.87 after the company announced a public offering of its common stock.

StoneMor Partner's disclosed after Thursday's market close it plans on selling 2 million common units of its common stock at a price of $24.76 per share.

Related Link: Bio Blast Gains 9%, Company Will Present Final Phase 2 Trial Data

StoneMor's stock closed for trading at $24.57 on Thursday.

The company added it will use the proceeds to pay down outstanding indebtedness under its revolving credit facility.

Posted-In: Funeral Home Stocks StoneMore PartnersNews Financing Offerings Movers Trading Ideas

 

Related Articles (STON)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Sunoco: A Top Defensive Pick for Low Gasoline Prices?

Expeditors Int'l Shares Upgraded To Overweight At Barclays