Reddit Shares Drop 6% as Advance Reportedly Plans $1.2B Credit Facility
Reddit Shares Drop 6% as Advance Reportedly Plans $1.2B Credit Facility
$Reddit (RDDT.US)$ shares are moving more than 6% lower on Friday following a report suggesting that shareholder Advance Magazine Publishers, Inc. plans to establish a credit facility using its stake in the company, Benzinga reports.
$Reddit (RDDT.US)$ 根据Benzinga的报道，周五股票下跌超过6%，因为股东Advance Magazine Publishers, Inc.计划利用其在公司的股份建立信用设施。
According to Yahoo Finance, the publishing company aims to make as much $1.2 billion in a sale of 7.8 million shares for between $145.38 to $148.54 per share.
根据Yahoo财经，出版公司希望通过以每股145.38至148.54美元的价格出售780万股，获得高达12亿的收入。
Even though the company plans to sell shares, Advance is not exiting its investment in Reddit. Instead, the company is borrowing against the value of its Reddit shares. To maintain its ownership stake, Advance is purchasing derivatives linked to its Reddit shares.
尽管该公司计划出售股票，但Advance并不会退出其在红迪的投资。相反，公司是通过借贷其红迪股票的价值来融资。为了维持其所有权，Advance正在购买与其红迪股票相关的衍生品。
