MercadoLibre Stock Slides After Raising $1.55B Via Equity Offering At 5% Discount

MercadoLibre Inc MELI has priced its underwritten public offering of one million shares of common stock at $1,550.00 per share.
The offer price represents a discount of 5% to Mercadolibre’s last close on November 15, 2021.
The company expects $1.55 billion in proceeds from the offering before underwriting discounts and expenses.
The underwriters have a 30-day option to buy up to an additional 0.15 million shares of common stock.
Price Action: MELI shares are trading lower by 6.64% at $1524.83 on the last check Tuesday.