On August 31, 2023, Orgenesis Agreed To Issue And Sell, In A Private Placement Of 2M Shares At $0.50 Per Share; The Company Received Gross Proceeds Of $1M-8K
Portfolio Pulse from Benzinga Newsdesk
Orgenesis has agreed to issue and sell 2 million shares at $0.50 per share in a private placement. The company has received gross proceeds of $1 million from this transaction.
September 01, 2023 | 11:10 am
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Orgenesis has raised $1 million through a private placement of 2 million shares at $0.50 per share. This could potentially dilute existing shareholders' equity.
The issuance of new shares often leads to dilution of existing shareholders' equity, which can negatively impact the stock price in the short term. However, the raised funds could be used for beneficial company activities, potentially offsetting the negative impact in the long term.
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