Silverbow Resources Inc (SBOW)

Shares of SilverBow Resources Inc (SBOW) dropped by 8.68% from $29.95 to $27.35 in the trading on Tuesday, December 12, 2023. The reason why SBOW down today is due to SilverBow Resources' announcement of an increased and priced underwritten public offering of its common stock. The company initiated an offering of 3,000,000 common shares, with 2,250,000 shares from the company itself and 750,000 from an affiliate of Strategic Value Partners, LLC (the "Selling Stockholder"). The underwriters also have a 30-day option to acquire up to 450,000 additional shares. Completion, size, and terms of the offering depend on market conditions.