Here is why Radius Global Infrastructure Inc. (RADI) stock plunged in the after-hours on Tuesday?

Radius Global Infrastructure Inc. (RADI) shares plummeted 4.51% in after-hours on Tuesday, September 07, 2021, and closed the daily trading at $17.15. However, in the regular trading session of Tuesday, RADI’s stock gained 0.34%. The stock volume remained 1.12 million shares, which was higher than the average daily volume of 0.43 million shares within the past 50 days. RADI shares have been up 2.57% in the past week. Over the past three months, the stock has gained 14.83%, while over the past six months, it has surged 52.33%.

Let’s see what’s going on with the company?

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RADI Proposed offering of Senior Notes

On September 07, 2021, Radius Global Infrastructure, Inc (RADI) announced its intention to offer $200 million aggregate principal amount of convertible senior notes due 2026 in a private placement to persons reasonably believed to be qualified institutional buyers according to Rule 144A under the Securities Act of 1933. Radius expects to grant to the initial purchasers of the Notes an option to purchase, for settlement within 13 days from the date of initial issuance of the Notes, up to an additional $30 million aggregate principal number of notes on the same terms and conditions.

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RADI recent financial results announcement

On August 11, 2021, Radius Global Infrastructure, Inc (RADI) announced its financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

  • RADI reported revenue of $25.0 million for Q2 2021 compared to $16.2 million for the three months ended June 30, 2020.
  • In Q2 2021, gross profit was $24.5 million compared to gross profit of $16.1 million in Q2 2020.
  • Total operating expenses were $40.0 million in Q2 2021 compared to $35.5 million in Q2 2020.
  • It suffered a net loss of $37.4 million in Q2 2021 compared to a net loss of $27.75 million in Q2 2020.
  • Loss per common diluted and basic share was $0.50 in Q2 2021 compared to $0.44 in Q2 2020.
  • The Company had $336.8 million of total cash and cash equivalents and restricted cash on June 30, 2021.

RADI on Russell 3000 Index

Radius Global Infrastructure, Inc (RADI) was included on the preliminary list of additions to the Russell 3000® Index on June 25, 2021.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.

RADI new appointment

On May 27, 2021, Radius Global Infrastructure, Inc (RADI) appointed Jason Harbes as Senior Vice President of Investor Relations. Harbes will lead the development and execution of Radius’s global investor relations strategy and serve as the Company’s primary liaison with shareholders and the investment community.

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The proposed offering of Senior Notes could be the reason behind its after-hours loss on Tuesday. We are not sure how it will commence the trading on Wednesday.

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