Shares of Penn National Gaming Inc.
slumped 5.1% in premarket trading Thursday, after the online gaming company said it has launched a public offering of 14 million shares of its common stock. The offering represents about 10.2% of the approximately 137.6 million shares outstanding. Based on Wednesday's stock closing price of $69.00, 14 million shares would be valued at $202.9 million. Penn said it plans to grant the underwriters of the offering options to buy up to an additional 2.1 million shares.
Nobody tell stoolpresidente
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