Bit Brother shares are trading lower after the company announced pricing of a $50 million registered direct offering.
Portfolio Pulse from Benzinga Newsdesk
Bit Brother has announced the pricing of a $50 million registered direct offering, leading to a decrease in its share price.
July 14, 2023 | 1:55 pm
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Bit Brother's shares are trading lower after the announcement of a $50 million registered direct offering.
The announcement of a registered direct offering often leads to a decrease in share price as it implies an increase in the number of shares outstanding, diluting the value of existing shares. This is likely the reason for the drop in Bit Brother's share price.
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