Broker-dealer giant RCS Capital's stock price continued to fall Friday following the company's secondary stock offering announcement.
The company has proposed the sale of 20 million shares of Class A common stock 15 million from RCS Capital and 5 million from RCAP Holdings that would net an estimated $466.3 million (based on Thursday's closing price) in a secondary offering. The proceeds would help fund pending deals, according to an SEC filing.
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