Cardinal Infrastructure Group proposes stock offering of 3.75M shares

Cardinal Infrastructure Group, Inc. (Nasdaq: CDNL) announced a proposed underwritten public offering of 3,750,000 shares of its Class A common stock, according to a press release from the Raleigh, N.C.-based company.

The company also intends to grant underwriters a 30-day option to purchase up to an additional 562,500 shares at the public offering price, less underwriting discounts and commissions. All shares in the proposed offering are being sold by Cardinal.

Stifel, William Blair, and Truist Securities are acting as book-running managers for the proposed offering.

A registration statement on Form S-1 relating to the securities has been filed with the Securities and Exchange Commission but has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the registration statement becoming effective.

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