Stagwell Raises $50M Via Institutional Offering Of Senior Notes

August 25, 2021 3:25 PM | 30 seconds read |

Stagwell Inc STGW subsidiary, Midas OpCo Holdings LLC, priced an additional $50 million 5.625% senior unsecured notes due 2029 in a secondary in a private institutional offering.
The offering proceeds will help to reduce credit facility borrowings and for general corporate purposes.
Midas recently raised $1 billion in a separate private offering.
Stagwell held $184.3 million in long-term debt as of Jun. 30.
Price Action: STGW shares traded lower by 1.05% at $6.58 on the last check Wednesday.