On Monday, NNAG announced it had sold off $8.7 billion worth of shares to raise $11.3 billion in a round of financing, the biggest single-day sale of NNA stocks since the company was formed in 2006.
The shares are valued at $11 billion, up by more than $2 billion from the closing price of the previous day’s offering.NNAG’s announcement comes on the heels of a similar round of buybacks by the company last week, when the NNAE said it had raised $9.8 billion in equity financing.
The company has also raised $5.5 billion in new funding in the past year, according to its most recent SEC filing.
While the company’s shares have rallied over the past few months, the recent surge in shares could signal the stock’s imminent price increase, analysts said.
The stock is trading at $14.50 a share, up nearly 7% since NNAP last week.
NNAE shares were also the top performing stock for a second day, increasing 4.3% to $927.83.
The NNAB’s market cap has risen by $7.5bn since the beginning of the year, making it the most valuable private company in the United States.
The company’s $7 billion round of capital was also followed by the $5 billion sale of the NNNA group to New Jersey-based Cargill.
The two companies are in the process of converting their assets to cash.
Cargill’s shares rose 0.6% to just over $11 a share.
Shares of Cargil are currently trading at a premium to the company.
Written By
The first of Apple's new Apple Watch models will be released on Wednesday, November 19th.The watch's "digital crown" will be incorporated into the stainless steel case, making it a completely separate device that can be worn separately."The Apple Watch is going to be more than just a fitness tracker, it's going to have the capability to connect to a range of different devices," Apple CEO Tim Cook ...
It's been five months since Lawrence Fish Market closed its doors, but the landmark business has remained open, thanks to its owners.A few years after its closure, the market was featured on the Discovery Channel show "The Price Is Right," and its former tenant, th...
The Boston market is the home of the Boston Market Flipper.A flipper is a person who buys and sells a lot of flasks in a short period of time.They may be selling in large numbers, but sometimes the flipper may be a small flea or a very few flasks.The market is usua...
The Bitcoin price is surging as banks across the world are tightening their regulations to restrict its use as a currency.Bitcoin, an online currency, surged above $10,000 for the first time on Tuesday, up more than 5 per cent from Wednesday's close.The cryptocurre...