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Why is Silverbow Resources Inc (SBOW) Stock down?
We've noticed a 100.00% decline in Silverbow Resources Inc (SBOW) stock during the 2024-07-30 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
12 Dec, 2023:
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.
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