Gorilla Technology Group shares are trading lower after the company announced a $25 million registered direct offering of convertible preferred stock.
Portfolio Pulse from Benzinga Newsdesk
Gorilla Technology Group has announced a $25 million registered direct offering of convertible preferred stock, leading to a decrease in its share price.
September 20, 2023 | 4:19 pm
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Gorilla Technology Group's stock price is trading lower after the announcement of a $25 million registered direct offering of convertible preferred stock.
The announcement of a new stock offering often leads to a decrease in the company's current stock price as it dilutes the value of existing shares. This is likely the reason for the drop in Gorilla Technology Group's share price.
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