OmniQ Prices Public Offering Of 3M Common Shares At $1/Share
Portfolio Pulse from Benzinga Newsdesk
OmniQ Corp. has priced its public offering of 3 million shares of common stock at $1 per share. The total gross proceeds from the offering are expected to be approximately $3 million. The company has also granted the underwriters a 45-day option to purchase up to an additional 450,000 shares at the public offering price less discounts and commissions. The offering is expected to close on October 11, 2023.
October 06, 2023 | 6:47 am
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OmniQ Corp.'s public offering of 3 million shares at $1 per share could potentially dilute existing shareholders' equity. However, the proceeds could be used to fund growth initiatives, which could have a positive impact in the long term.
Public offerings often lead to dilution of existing shareholders' equity, which can negatively impact the stock price in the short term. However, the proceeds from the offering could be used to fund growth initiatives, which could potentially have a positive impact on the stock price in the long term.
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IMPORTANCE 75
RELEVANCE 100