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Archrock Inc (NYSE:AROC) shares are trading lower by 5.4% to $22.09 during Tuesday’s session after the company priced an 11 million share offering at $21 per share.
The offering is expected to raise approximately $223 million after expenses. The offering is set to close on July 24, pending customary conditions, with an option for underwriters to buy an additional 1.65 million shares.
Archrock plans to use the proceeds to help finance the acquisition of Total Operations and Production Services, LLC (TOPS) and for general corporate purposes if the acquisition does not proceed.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Archrock’s case, it is in the Energy sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, AROC has a 52-week high of $23.44 and a 52-week low of $10.75.
Posted In: AROC
