Seelos Therapeutics shares are trading lower after the company announced a $4.5 million registered direct offering of 15 million shares at $0.30 per share.
Portfolio Pulse from Benzinga Newsdesk
Seelos Therapeutics has announced a $4.5 million registered direct offering of 15 million shares at $0.30 per share, causing its shares to trade lower.
September 21, 2023 | 2:13 pm
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Seelos Therapeutics' stock is trading lower due to the announcement of a $4.5 million registered direct offering of 15 million shares at $0.30 per share.
The announcement of a registered direct offering often leads to a decrease in the share price as it dilutes the value of existing shares. In this case, Seelos Therapeutics is offering 15 million shares at $0.30 each, which is likely lower than the current trading price, leading to a decrease in the stock price.
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