EZGO Technologies Announces Pricing of $9.6M Registered Direct Offering Of 8,498,125 Shares At $1.13/Share
Portfolio Pulse from Benzinga Newsdesk
EZGO Technologies has announced the pricing of its registered direct offering of 8,498,125 shares at $1.13 per share, raising a total of $9.6 million.
September 12, 2023 | 1:17 pm
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NEGATIVE IMPACT
EZGO Technologies' direct offering of 8.5 million shares at $1.13 per share could potentially dilute existing shareholders' equity.
The direct offering of shares by EZGO Technologies could lead to dilution of existing shareholders' equity. This is because the number of shares outstanding increases, which can lower the value of existing shares. Therefore, this news could potentially have a negative impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100