Intel Sold $20 Billion of Stock at $95 a Share. It Now Trades Below $93.
Intel sold 210.5 million new shares at $95 each on Aug. 10 in a stock offering upsized from $15 billion to $20 billion within hours. With the underwriters' option fully exercised, the sale raised about $23 billion, and Intel's stock now trades below $93.
Why it matters — A substantial dilutive share issuance that now trades below its offering price is directly relevant to Intel shareholders' equity and valuation.