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.
$Reddit (RDDT.US)$ 根據Benzinga的報道，週五股票下跌超過6%，因爲股東Advance Magazine Publishers, Inc.計劃利用其在公司的股份建立信用設施。
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.
根據Yahoo財經，出版公司希望通過以每股145.38至148.54美元的價格出售780萬股，獲得高達12億的收入。
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.
儘管該公司計劃出售股票，但Advance並不會退出其在紅迪的投資。相反，公司是通過借貸其紅迪股票的價值來融資。爲了維持其所有權，Advance正在購買與其紅迪股票相關的衍生品。
