Gaia Prices Underwritten Public Offering of 1.9M Shares at $2.70/Share
Portfolio Pulse from Benzinga Newsdesk
Gaia, Inc. (NASDAQ:GAIA) has priced its underwritten public offering of 1,855,000 shares of its Class A common stock at $2.70 per share. The gross proceeds from the offering are expected to be approximately $5.0 million. The company also granted the underwriter a 30-day option to purchase up to an additional 278,250 shares at the public offering price. The offering is expected to close on October 5, 2023. The proceeds will be used for general corporate purposes.
October 03, 2023 | 12:05 pm
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Gaia, Inc. is raising funds through a public offering of its Class A common stock. The proceeds will be used for general corporate purposes.
The news of the public offering could have a neutral impact on Gaia's stock price in the short term. While the additional capital could strengthen the company's financial position, the increase in shares could dilute existing shareholders' equity.
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