{"id":138258,"date":"2021-09-09T19:57:35","date_gmt":"2021-09-09T19:57:35","guid":{"rendered":"https:\/\/precoinnews.com\/?p=138258"},"modified":"2021-09-09T19:57:35","modified_gmt":"2021-09-09T19:57:35","slug":"sea-limited-drops-following-public-offering-of-shares","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/sea-limited-drops-following-public-offering-of-shares\/","title":{"rendered":"Sea Limited Drops Following Public Offering Of Shares"},"content":{"rendered":"
Shares of Electronic Gaming & Multimedia company Sea Limited (SE) are down more than 5% in the morning trade on Thursday at $324.90.<\/p>\n
Wednesday, the company announced a proposed registered underwritten public offering of American Depositary Shares, each representing one Class A ordinary share, par value $0.0005 per share, and a proposed registered underwritten public offering of its convertible senior notes due 2026.<\/p>\n
The company intends to offer 11 million ADs and $2.5 billion aggregate principal amount of Notes.<\/p>\n
Sea Limited also intends to grant the underwriters in the ADS Offering a 30-day option to purchase up to an additional 1.56 million ADSs and to grant the underwriters in the Notes Offering a 30-day option to purchase up to an additional $375 million in aggregate principal amount of Notes.<\/p>\n
The Company plans to use the net proceeds from the Offerings for business<\/span> expansion and other general corporate purposes, including potential strategic investments and acquisitions.<\/p>\n SEA has been trading in the range of $138.03-$35.84 in the last one year. <\/p>\n