RVL Pharmaceuticals shares are trading lower after the company announced a $5 million registered direct offering of 11,870,846 shares priced at $0.4212 per share.
Portfolio Pulse from Benzinga Newsdesk
RVL Pharmaceuticals announced a $5 million registered direct offering of 11,870,846 shares priced at $0.4212 per share, causing its shares to trade lower.
August 16, 2023 | 2:44 pm
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RVL Pharmaceuticals' stock is trading lower due to the announcement of a $5 million registered direct offering of shares at a price of $0.4212 each.
The announcement of a direct offering often leads to a decrease in the stock price as it dilutes the value of existing shares. In this case, RVL Pharmaceuticals' shares are trading lower following the announcement of a $5 million registered direct offering of nearly 12 million shares at $0.4212 each.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100