Stevanato Group stock slides on pricing upsized stock offering to raise $330 million [Seeking Alpha]
Stevanato Group S.p.A. Ordinary Shares (STVN)
Company Research
Source: Seeking Alpha
common stock at $26.00 a share, for an expected to be approximately $330.0 million. Shares of STVN fell 4.63% in premarket trading on Friday. The offering was upsized from previously announced $300 million to $420.0 million. Per the terms of the offering, Stevanato Group ( STVN ) and Stevanato Holding S.r.l., an affiliate and major shareholder of the company are offering 6.35 million ordinary shares each, with the underwriters granted an option to purchase up to 1.91 million additional shares on the same terms and conditions. Stevanato said that it will not receive any proceeds from the selling shareholder offering. The offering is expected to close on March 26, 2024. The company intends to use the net proceeds from the offering for general corporate purposes, including to enable Stevanato Group to satisfy the requirements of its ongoing investment activities and working capital needs, and to ensure an appropriate level of operating and strategic flexibility. Recommended
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STVN
News
- Stevanato Group to Report First Quarter 2024 Financial Results on May 9, 2024Business Wire
- Stevanato Group (STVN) to Report Q1 Results: What You Should Expect [Yahoo! Finance]Yahoo! Finance
- Stevanato Group S.p.A. (NYSE: STVN) had its "equal weight" rating re-affirmed by analysts at Morgan Stanley. They now have a $30.00 price target on the stock.MarketBeat
- Stevanato Group S.p.A. (NYSE: STVN) is now covered by analysts at BNP Paribas. They set an "outperform" rating on the stock.MarketBeat
- Italy's Frugal Pharma Billionaire Eyes Place Among Global Leaders in Drug Injection Devices [BNN Bloomberg (Canada)]BNN Bloomberg
STVN
Earnings
- 3/7/24 - Miss
STVN
Sec Filings
- 3/27/24 - Form 6-K
- 3/26/24 - Form 6-K
- 3/25/24 - Form 6-K
- STVN's page on the SEC website