Goldman's offering buyers take a $368M hit

Things may have looked rosy for Goldman Sachs & Co. (NYSE: GS) shareholders on Monday when its Q1 earnings blew away estimates and management green lit a $5 billion stock offering; but things quickly turned south for those that jumped in early on Tuesday.

The oversubscribed offering priced at $123 a share at 9:00am on Tuesday, but had fallen below that by midday, tumbling to a $115.11 close. With demand high, Goldman was also able to exercise the offering's over allotment option and pocket another $750 million. But with the stock down 11.5%, subscribers of the offering and over allotment lost a combined $368.8 million right off the bat. - George White

See Deal Pipeline story on Goldman earnings
See Dealscape post on bank's Q1 earnings
See Dealscape on Goldman's stock performance 

Continue reading below

Post a comment

Name:

Email Address:

URL:

Remember personal info?

Comments: (you may use HTML tags for style)

Please only click "Post" once. It may take a few moments to process.

Deal Video

	Inside The Deal: AlixPartners' Steve Deedy on Black Friday, the holiday season and retail bankruptcies.
More video...

Elsewhere on The Deal.com

Dealwatch

• Confectioners: Cadbury, Hershey, more
• Airline consolidation, bankruptcy
• AIG Inc.
• AOL

The Deal Magazine

• The kids are all right
• The search for auspiciousness
• Be true to your school
• Waiting to exhale

Corporate Dealmaker

• In videogame war, Sony needs content deals
• Deal Economy 2010: Abbott's Murphy on healthcare M&A
• Deal Economy 2010: Biggest risks to GM
• Wharton's take on an M&A revival

The Deal Video

• Deal Economy 2010: GE's O'Brien on M&A strategy
• Deal Economy 2010: Young on QBs as PE investors
• Deal Economy 2010: Cisco's Hooper on Tandberg pursuit
• Deal Economy 2010: IBM's Mendoza on IT services M&A

Categories

• Bankruptcy
• Corporate restructuring
• Deal international
• Dealmakers
• Featured
• IPOs
• M&A
• Middle market
• Law & regulation
• Private capital
• Conferences
• Technology

Blog roll

• BloggingBuyouts
• BloggingStocks
• Dealbook
• DealBreaker
• Deal Journal
• FT Alphaville
• footnoted.org
• Going Private
• peHUB
• Reuters Dealzone
• SEC Investor
• Prince Of Wall Street
• Bankruptcy Bill
• Information Arbitrage

Archives

• November 2009
• October 2009
• September 2009
• August 2009
• July 2009
• June 2009
• May 2009
• April 2009
• March 2009
• February 2009
• January 2009
• December 2008
• November 2008
• October 2008
• September 2008
• August 2008
• July 2008
• June 2008
• May 2008
• April 2008
• March 2008
• February 2008
• January 2008
• December 2007
• November 2007
• October 2007
• September 2007
• August 2007
• July 2007
• June 2007
• May 2007
• April 2007
• March 2007
• February 2007
• January 2007
• December 2006
• November 2006
• October 2006
• September 2006
• August 2006
• July 2006
• June 2006
• May 2006
• April 2006
• March 2006
• February 2006
• January 2006
• December 2005