Imperial Petroleum shares are trading lower after the company announced the pricing of approximately $17 million of its units in a registered direct offering at a price of $2 per unit.
Portfolio Pulse from Benzinga Newsdesk
Imperial Petroleum has announced the pricing of approximately $17 million of its units in a registered direct offering at a price of $2 per unit. This has led to a decrease in the company's share price.
August 11, 2023 | 2:15 pm
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Imperial Petroleum's share price has decreased following the announcement of a $17 million registered direct offering at $2 per unit.
The announcement of a registered direct offering often leads to a decrease in a company's share price. This is because it increases the number of shares in circulation, diluting the value of existing shares. In this case, Imperial Petroleum's share price has decreased following the announcement of a $17 million registered direct offering at $2 per unit.
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