Source: thinkstock
Earlier this month, Sinclair agreed to acquire Fisher Communications Inc. (NASDAQ: FSCI) for approximately $373 million in cash. Including this acquisition, Sinclair broadcast empire will reach more than a third of all U.S. television households.
Today’s offering includes a 30-day option from some selling stockholders for an additional 2.1 million shares. Net proceeds from the offering will be used to fund pending and future potential acquisitions and for general corporate purposes.
The number of shares in the offering equals about 17% of Sinclair’s total number of shares outstanding.
Shares of Sinclair have jumped more than 16% in the two weeks since the announcement of the Fisher acquisition and more than 35% in the past 30 days. The stock has more than doubled since the beginning of the year.
Shares are down about 1.8% this morning, at $27.00 in a 52-week range of $7.82 to $28.53.
ALERT: Take This Retirement Quiz Now (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
