Why Altus Power Shares Are Diving

Altus Power Inc AMPS shares are trading lower by 18.55% to $11.59 Thursday morning after the company priced a 7 million share secondary underwritten public offering of Class A common stock at $11.50 per share.

What Else?

The offering is expected to close on or about October 3rd, subject to customary closing conditions.

Altus Power says sll of the shares in the offering are to be sold by Blackstone. Altus Power will not receive any proceeds from the sale of shares of its Class A common stock by Blackstone.

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According to data from Benzinga Pro, Atlus Power has a 52-week high of $14.72 and a 52-week low of $4.26.