RE:RE:Moose pasture and reason for selling today<< Seabridge is down 8%.>>
SEA is down because of the secondary offering.
Stock actually closed higher (US 17.98) than the bought deal price of $17.75, which implies that Cantor Fitzgerald et al have sold the entire block of 6.1 million shares.
Very positive for Seabridge - Rudi Fronk scooped up a bargain.
But that's what typically happens when only one buyer shows up at an auction.