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Carnival stock dips as company prices $1b shares offering

Carnival Corp. shares fell more than 9% in after-hours trading following the pricing of the company's underwritten public offering of more than 100m shares of common stock at $9.95 per share.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

July 20, 2022

1 Min Read
Credit: Seatrade Cruise News

CCL dipped to $10.06, down $1.03, after market close Wednesday.

Underwriter option

Carnival is offering 102,139,621 shares and granted underwriter Goldman Sachs a 30-day option to purchase up to 15,320,943 additional shares.

The offering is expected to close July 25.

Use of proceeds

The company plans to use the net proceeds for general corporate purposes, which could include addressing 2023 debt maturities.

CCL has traded as low as $8.10 and as high as $27.39 during the past 52 weeks.

Read more about:

Carnival Corp. & plc

About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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