Sonnet BioTherapeutics shares are trading lower after announcing $2.25 million registered direct offering of 5 million at $0.45/share.
Portfolio Pulse from Benzinga Newsdesk
Sonnet BioTherapeutics has announced a registered direct offering of 5 million shares at $0.45/share, totaling $2.25 million. Following the announcement, the company's shares are trading lower.
June 28, 2023 | 12:14 pm
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Sonnet BioTherapeutics' stock price is trading lower following the announcement of a $2.25 million registered direct offering.
The announcement of a direct offering often leads to a decrease in the company's stock price. This is because it increases the number of shares available in the market, diluting the value of existing shares. In this case, Sonnet BioTherapeutics' shares are trading lower following the announcement of a $2.25 million registered direct offering.
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IMPORTANCE 80
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