Grom Social Enterprises, Inc. Announces Pricing Of $3M Public Offering Of 946,000 Units At A Price To The Public Of $3.00 Per Unit
Portfolio Pulse from Benzinga Newsdesk
Grom Social Enterprises, Inc. (NASDAQ:GROM) has announced the pricing of a public offering of 946,000 units at $3.00 per unit and approximately 54,000 pre-funded units at $2.999 per unit. The offering is expected to close on September 12, 2023, and is expected to generate gross proceeds of approximately $3.0 million. The proceeds will be used for general corporate purposes, including acquisitions, R&D, strategic partnerships, and working capital.
September 08, 2023 | 12:31 pm
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POSITIVE IMPACT
Grom Social Enterprises' public offering could potentially increase liquidity and fund future growth initiatives, which may have a positive impact on the stock in the short term.
Public offerings often lead to increased liquidity and provide funds for growth initiatives. Given that the proceeds will be used for acquisitions, R&D, strategic partnerships, and working capital, this could potentially drive growth and have a positive impact on Grom Social Enterprises' stock.
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IMPORTANCE 80
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