Linc Energy has just raised $200 million through a convertible bond issue. This is what’s happened to its share price.
The company’s shares fell 12% to $2.30 on Thursday morning after coming out of a trading halt.
Linc is going to use the cash to pay down existing debt and to strengthen its balance sheet.
While it looks nasty, shares in the company have actually tripled in value over the past four months, increasing from 69.5 cents to $2.30 on Tuesday.
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