Genasys Announces Proposed Public Offering Of Common Stock; No Size Disclosed
Portfolio Pulse from Benzinga Newsdesk
Genasys Inc. (NASDAQ:GNSS) plans to offer shares of its common stock in an underwritten public offering. The company also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares. The offering is subject to market conditions and there is no assurance as to whether or when the offering may be completed. The net proceeds from this offering will be used for general corporate purposes.
September 27, 2023 | 8:11 pm
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Genasys Inc. is planning a public offering of its common stock. The proceeds will be used for general corporate purposes.
The announcement of a public offering can have mixed effects on a company's stock. On one hand, it can dilute existing shares, potentially leading to a decrease in share price. On the other hand, it can provide the company with additional capital for growth. The impact on Genasys' stock will depend on market conditions and investor sentiment.
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