🔴 FPS is trading 4.7% down today after pricing a dilutive $2.1 billion equity offering

FPS is trading 4.7% down at $45.26 after investors digested news of a large, dilutive equity offering priced below recent highs.

• The company raised approximately $2.1 billion via an upsized Class A share sale.
• Repeated post-IPO issuances are pressuring the stock as markets reassess valuation and dilution risk.