Dole plc announced the pricing of an underwritten secondary offering of an aggregate of 11,917,263 of its ordinary shares. The shares were offered by Castle & Cooke Holdings, Inc. and The Murdock Group, LLC, identified as the Selling Shareholders.
The ordinary shares were priced to the public at $13.25 per share. It is important to note that Dole plc itself is not selling any ordinary shares in this offering, and as such, the company will not receive any proceeds from the sale.
This secondary offering by existing large shareholders can increase the float of the company's stock in the market. While it does not directly impact Dole plc's balance sheet or cash position, it represents a change in the ownership structure and can influence market sentiment regarding the stock.
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