Markets

Fortress Transportation Shares Drop Pre-Bell as Co Prices Public Offering of Common Shares at Discount

An image of a person pointing to part of a graph
Credit: Shutterstock photo

Fortress Transportation and Infrastructure Investors ( FTAI ) shares fell in premarket trading Thursday after the New York-based company priced its registered underwritten public offering of 7 million of its shares at a public offering price of $18.65 a share, 6% lower than the share closing price on Wednesday.

The offering is expected to close on Jan. 16.

In connection with the offering, the underwriters have a 30-day option to purchase up to 1.1 million additional shares.

The company said it will use the net proceeds funding future investments.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

FTAI

Other Topics

ETFs

Latest Markets Videos