🔴 Constellation Energy Corp is trading 5.1% down today after announcing a secondary public offering of 11 million shares

Constellation Energy Corp is trading 5.1% down at $273.17 following the announcement of a secondary public offering by existing shareholders.

• The offering includes 11 million shares from selling shareholders, with an additional 30-day option for underwriters to purchase up to 1.35 million shares.
• The company intends to repurchase 2 million shares from the underwriters as part of the transaction.
• The stock is facing downward pressure as investors react to the increased float and potential deal overhang.