Market Overview

StoneMor Partners Falls 3%, Company Announces Public Offering


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


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