Jiuzi Shares Plunge Following $2.3M Equity Offering
Portfolio Pulse from Shivani Kumaresan
Jiuzi Holdings Inc (NASDAQ:JZXN) shares have dropped over 50% following a securities purchase agreement with institutional investors to purchase $2.3 million worth of its ordinary shares in a registered direct offering. The purchase price per share is $1.65. The offering is expected to close on July 19, 2023.
July 17, 2023 | 3:14 pm
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Jiuzi Holdings' shares have dropped significantly following the announcement of a $2.3 million equity offering. The shares are currently trading lower by 57%.
The announcement of the equity offering has led to a significant drop in Jiuzi Holdings' share price. This is likely due to the dilution of shares caused by the offering, which can lead to a decrease in the value of existing shares.
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