Stock Alert: New Fortress Energy Loses 9%

Shares of New Fortress Energy Inc. (NFE) are falling more than 9% Wednesday morning at $51.06.

Tuesday, the company launched an underwritten public offering of $150 million of shares of its Class A common stock.

New Fortress Energy also priced its previously announced private offering of $250 million aggregate principal amount of additional 6.750% senior secured notes due 2025.

The additional Notes will be issued at an issue price equal to 105.25% of principal, plus accrued interest from and including September 2, 2020.

The company plans to use the net proceeds from both the offerings for general corporate purposes.

NFE has traded in the range of $7.01- $57.14 in the past 52 weeks.

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