Glory Star Announces A New Round Of $20M Private Placement Of 8,064,516 Shares At $2.48/Share
Portfolio Pulse from Benzinga Newsdesk
Glory Star New Media Group Holdings Limited (GSMG) has announced a new round of private placement of 8,064,516 shares at $2.48 per share, raising $20 million in total.
August 16, 2023 | 12:13 pm
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Glory Star's new round of private placement could potentially dilute existing shareholders' equity, which may negatively impact the stock price in the short term.
Private placements often lead to dilution of existing shareholders' equity, which can result in a decrease in the stock price. Given the size of the placement, this could have a significant impact on GSMG's stock price in the short term.
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