Granite Ridge Resources falls on secondary offering by shareholder

Granite Ridge Resources

11/09/2023 15:52

** Shares of oil and gas producer Granite Ridge Resources
 GRNT.N  fall 12.7% to $6.55
    ** Stock on track for biggest single-day percentage loss
since May 
    ** Co announces secondary offering of 7.1 mln shares by
certain funds managed by Grey Rock Energy Management at par
value of $0.0001/shr
    ** GRNT will not receive proceedings from the offering
    ** Stock second-largest loser on the NYSE Composite index as
of 10:32 am ET
    ** GRNT down 26% YTD 
    

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))