Jiuzi shares are trading lower after the company announced pricing of a $2.3 million registered direct offering.
Portfolio Pulse from Benzinga Newsdesk
Jiuzi Holdings, Inc. (JZXN) announced the pricing of a $2.3 million registered direct offering, leading to a decrease in its share price.
July 17, 2023 | 12:31 pm
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Jiuzi Holdings' stock price is trading lower following the announcement of a $2.3 million registered direct offering.
The announcement of a registered direct offering often leads to a decrease in the share price as it implies an increase in the number of shares outstanding, which dilutes the value of existing shares. This is likely the reason for the drop in Jiuzi Holdings' share price.
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