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Renasant Corp (NYSE:RNST) shares are trading lower by 4.95% to $34.17 during Tuesday’s session after the company announced a public offering of 6.25 million shares of common stock at $32.00 per share, totaling $200 million. They have also granted underwriters a 30-day option to buy up to an additional 937,500 shares.
The net proceeds are expected to be around $190 million and will be used for general corporate purposes, including growth investments and strategic acquisitions.
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 Renasant’s case, it is in the Financials 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, RNST has a 52-week high of $37.40 and a 52-week low of $22.99.
Posted In: RNST
