Volcon Announces Pricing Of $700K Underwritten Public Offering Of 1.4M Shares At A Price Of $0.50/Share
Portfolio Pulse from Benzinga Newsdesk
Volcon has announced the pricing of its underwritten public offering of 1.4 million shares at a price of $0.50 per share, raising a total of $700,000.
September 15, 2023 | 12:59 pm
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NEGATIVE IMPACT
Volcon's public offering of 1.4 million shares at $0.50 per share could potentially dilute existing shareholders' equity.
The public offering of new shares by Volcon could lead to dilution of existing shareholders' equity. This is because the introduction of additional shares can decrease the value of existing shares. Therefore, this news could potentially have a negative impact on Volcon's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100