Boston Scientific Corp. Shares Trading Lower on NYSE Thursday
May 21 2020 - 11:55AM
Dow Jones News
By Stephen Nakrosis
Shares of Boston Scientific Corp. are trading lower on the New
York Stock Exchange Thursday, a day after the company said it
launched offerings of its common stock and its Series A Mandatory
Convertible preferred stock.
At 11:17 a.m. EDT, shares of the medical devices company has
fallen 6.13% to trade at $34.90.
After the bell Wednesday, Boston Scientific said it commenced
concurrent offerings of $750 million of shares of its common stock
and $750 million of shares of its Series A Mandatory Convertible
Preferred Stock.
Earlier Thursday, Fitch Ratings said Boston Scientific's ratings
were unaffected by the equity issuance, and added that the
issuances "will provide additional liquidity as the company
experiences near-term operational pressures from the coronavirus
pandemic."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 21, 2020 11:40 ET (15:40 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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