Why 180 Life Sciences Stock Is Getting Hammered
Portfolio Pulse from Henry Khederian
180 Life Sciences Corp (NASDAQ:ATNF) announced a $3 million public offering, causing its shares to drop by 18.3% to $0.69. The offering includes 4,615,385 common stock shares and accompanying warrants priced at $0.65 per share, exercisable until October 10, 2028. The proceeds will be used for research, development, general corporate purposes, and legal expenses.
August 10, 2023 | 1:50 pm
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180 Life Sciences Corp's stock price dropped significantly following the announcement of a $3 million public offering. The offering is priced lower than the current trading price, which may have contributed to the drop.
The announcement of a public offering typically dilutes existing shares, which can lead to a drop in stock price. In this case, the offering is priced lower than the current trading price, which may have further contributed to the drop in ATNF's stock price.
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