Its inventory shed greater than 16% at one level throughout buying and selling Thursday morning, hitting a low of $10.36 per share. That is a far cry from its all-time excessive of $62.80, hit in early 2021.
The corporate is issuing a minimum of $425 million — and probably as much as $500 million — price of convertible senior notes, a sort of debt instrument, in a personal providing.
The hit to the corporate’s inventory compounded an already tough few months for the corporate.
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