Velo3D shares are trading lower after the company reported worse-than-expected Q2 financial results and announced an offering of $70 million of senior secured convertible notes.
Portfolio Pulse from Benzinga Newsdesk
Velo3D's shares are trading lower following the company's disappointing Q2 financial results and the announcement of a $70 million offering of senior secured convertible notes.
August 10, 2023 | 8:16 pm
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Velo3D's stock price is expected to decrease in the short term due to worse-than-expected Q2 results and the announcement of a $70 million notes offering.
Velo3D's Q2 financial results were worse than expected, which is likely to negatively impact investor sentiment and drive the stock price down. Additionally, the announcement of a $70 million offering of senior secured convertible notes could dilute existing shareholders' equity, further pressuring the stock price.
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IMPORTANCE 80
RELEVANCE 100