Lineage (NASDAQ:LINE) stock is a hot topic on Thursday as investors prepare for the global temperature-controlled warehouse real estate investment trust (REIT) company’s shares to start trading today.
Let’s get into everything investors need to know about Lineage before shares of LINE stock start trading later today.
LINE Stock: What to Know About Lineage
- Lineage is offering 56.88 million shares of LINE stock in its initial public offering.
- These shares are priced at $78 each.
- The initial public offering (IPO) also includes a 30-day option for underwriters to acquire another 8.53 million shares at $78 each.
- Lineage will use the money raised in the IPO to repay borrowings, fund one-time cash grants to some employees, pay tax withholding obligations for stock grants and redeem its Series A preferred stock.
- Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan and Wells Fargo Securities are the joint lead book-running managers for the IPO.
- Shares of LINE stock will start trading on the Nasdaq today.
- The company’s IPO is expected to close on Friday.
Investors will want to keep an eye on LINE stock today to see how it performs. The stock’s movement today could show whether traders believe the $78 price tag for shares is a fair value.
Investors will want to stick around for more of the most recent stock market stories on Thursday!
We have all of the latest stock market stories worth reading about today! Among that is what has shares of Edwards Lifesciences (NYSE:EW), 2U (NASDAQ:TWOU) and Tivic Health Systems (NASDAQ:TIVC) stock moving today. All of this info is ready at the links below!
More Thursday Stock Market News
- Why Is Edwards Lifesciences (EW) Stock Down 22% Today?
- Why Is 2U (TWOU) Stock Down 71% Today?
- Why Is Tivic Health Systems (TIVC) Stock Up 44% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
