Why BioRestorative Therapies (BRTX) Stock Is Getting Hammered
Portfolio Pulse from Henry Khederian
BioRestorative Therapies Inc (BRTX) shares dropped by 17.13% after the company announced a $2.1 million registered direct offering. The offering is for the sale of 685,033 shares at $3.03 per share. The proceeds will be used for clinical trials, pre-clinical research and development, and general corporate purposes.
July 11, 2023 | 1:36 pm
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BioRestorative Therapies' stock price dropped significantly following the announcement of a registered direct offering. This could indicate investor concern about dilution of shares.
The announcement of a registered direct offering often leads to a drop in the stock price due to the potential dilution of shares. In this case, BRTX's stock price dropped by 17.13%, indicating significant investor concern.
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