The Metals Company Announces ~$27M Registered Direct Offering At $2.00 Per Share Plus Class A Warrants
Portfolio Pulse from Benzinga Newsdesk
The Metals Company (TMC) has announced a registered direct offering of approximately $27 million at $2.00 per share, along with Class A warrants.
August 14, 2023 | 12:16 pm
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NEGATIVE IMPACT
TMC's announcement of a $27M registered direct offering at $2.00 per share, plus Class A warrants, could dilute existing shareholders' equity.
The announcement of a direct offering often leads to a decrease in the stock price due to the dilution of existing shareholders' equity. The impact is likely to be negative in the short term as the market adjusts to the new shares and potential dilution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100