Intelligent Bio Solutions shares are trading lower after the company announced the pricing of a $4 million underwritten public offering at $0.55 per unit.
Portfolio Pulse from Benzinga Newsdesk
Intelligent Bio Solutions has announced the pricing of a $4 million underwritten public offering at $0.55 per unit, causing its shares to trade lower.
October 02, 2023 | 2:10 pm
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Intelligent Bio Solutions' stock is trading lower due to the announcement of a $4 million underwritten public offering at $0.55 per unit.
The announcement of a public offering usually leads to a decrease in the stock price as it dilutes the value of existing shares. In this case, the offering price is likely lower than the current trading price, leading to a drop in the stock price.
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