MamaMancini's Drops After 18% Discount On Shareholder Equity Offering
Portfolio Pulse from Shivani Kumaresan
MamaMancini's Holdings (NASDAQ:MMMB) has priced a secondary offering of 6.3 million shares by certain selling shareholders at $2.50 per share, an 18.6% discount to the company's closing price on June 21. The company is not selling any shares in the offering and will not receive any proceeds. MMMB shares are trading lower by 10.2% at $2.75.
June 22, 2023 | 2:15 pm
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MamaMancini's secondary offering priced at an 18.6% discount, causing shares to trade lower by 10.2% at $2.75.
The secondary offering is priced at an 18.6% discount to the company's closing price on June 21, which has led to a decline in the stock price. As the company is not selling any shares and will not receive any proceeds, this news has a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100