Why Golden Minerals (AUMN) Shares Are Nosediving
Portfolio Pulse from Henry Khederian
Golden Minerals Co (AUMN) shares are down 15.26% after announcing a $2.1 million registered direct offering. The company will sell 1,427,587 common stock shares at $1.45 per share and issue unregistered warrants for the purchase of up to 1,427,587 common stock shares at $1.90 per share.
June 27, 2023 | 2:17 pm
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AUMN shares are down 15.26% after the company announced a $2.1 million registered direct offering, selling 1,427,587 common stock shares at $1.45 per share and issuing unregistered warrants at $1.90 per share.
The announcement of the registered direct offering has led to a decline in AUMN's share price, as the offering dilutes the value of existing shares. The sale of common stock shares at $1.45 per share is below the current market price, which is causing the stock price to drop.
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