All articles tagged with #stock issuance
Virgin Galactic said it will redeem up to $30.5 million of its 9.80% First Lien Notes by issuing common stock to noteholders instead of paying cash, a move that reduces near‑term debt and interest costs but dilutes existing shareholders; the plan, part of a capital-management push ahead of commercial operations in late 2026, prompted a stock price drop as investors weighed dilution against balance‑sheet benefits.
China's largest homebuilder, Country Garden, plans to raise $34 million by issuing new shares in an attempt to address its mounting debt and navigate the deepening property crisis in China. The company, which is on the verge of default after missing two interest payments, will sell the shares at a 15% discount to Tuesday's closing price. The proceeds will go to a subsidiary of Kingboard Holdings, a materials and chemicals manufacturer, to which Country Garden owes millions of dollars. The move comes as several Chinese property developers, including some major players, have faced defaults due to excessive borrowing and a downturn in sales.