Blue Star Foods Announces Pricing Of $5M Public Offering Of 10,741,139 Shares Of Its Common Stock At A Price Of $0.4655 Per Share
Portfolio Pulse from Happy Mohamed
Blue Star Foods Corp. (NASDAQ: BSFC) has announced the pricing of its public offering of 10,741,139 shares of its common stock at $0.4655 per share, along with accompanying common stock warrants. The total gross proceeds from the offering are expected to be approximately $5 million. The closing of the offering is expected to occur on September 11, 2023. The company intends to use the net proceeds for general corporate purposes and repayment of certain outstanding debt.
September 07, 2023 | 1:28 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Blue Star Foods Corp. is offering 10,741,139 shares of its common stock at $0.4655 per share, expecting to raise $5 million. The proceeds will be used for general corporate purposes and debt repayment.
The public offering will increase the number of shares in circulation, which could dilute the value of existing shares. However, the proceeds will be used for general corporate purposes and debt repayment, which could strengthen the company's financial position in the long term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100