Herbalife Nutrition $HLF $250 Million Convertible Debt Offering Tanks Stock, Dark Pool Seller

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Herbalife Nutrition $HLF plunged -25% on December 6, 2022, after the company announced a $250 million convertible debt offering. Interestingly, an extremely well timed dark pool trade hit occurred in $HLF on November 21, 2022, just 2 weeks before the convertible debt offering was announced.

Herbalife stock chart on December 6 2022 in a downtrend channel with a negative MACD and negative money flow
Herbalife stock chart on December 6 2022 in a downtrend channel with a negative MACD and negative money flow

Dark Pool Trade In Herbalife Nutrition $HLF Stock

A dark pool trade occurred in $HLF stock on November 21, 2022. The dark pool trade was valued at $20 million. We think the dark pool order was selling because $HLF stock fell following the trade hitting the tape.

Herbalife stock chart on December 6 2022 with a dark pool trade shown with orange bar
Herbalife stock chart on December 6 2022 with a dark pool trade shown with orange bar

Herbalife Nutrition announces $250M convertible senior notes offering

Herbalife Nutrition announced on December 5, 2022 that it would be issuing convertible senior notes due in 2028 with a $250 million aggregate principal amount in a private offering. The company intends to use some of the net proceeds from the offering to repurchase its existing 2.625 percent convertible senior notes due 2024 from a select group of holders in privately negotiated transactions, and to use the remaining net proceeds for general business needs.

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