EMCORE shares are trading lower after the company announced the pricing of its $15.8 million public offering of 19,652,174 shares of its common stock at $0.50 per share.
Portfolio Pulse from Benzinga Newsdesk
EMCORE has announced the pricing of its $15.8 million public offering of 19,652,174 shares of its common stock at $0.50 per share. This has led to a decrease in the company's share price.
August 17, 2023 | 2:12 pm
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EMCORE's stock price is trading lower after the company announced a public offering of its shares at a lower price.
The company's decision to offer its shares at a lower price has led to a decrease in its stock price. This is because the lower offering price dilutes the value of existing shares, leading to a decrease in the stock price.
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