Polestar Automotive shares are trading lower after the company announced it filed for a mixed shelf offering of up to $1 billion in stock and warrants.
Portfolio Pulse from Benzinga Newsdesk
Polestar Automotive has filed for a mixed shelf offering of up to $1 billion in stock and warrants, which has led to a decrease in its share price.
October 11, 2023 | 12:18 pm
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Polestar Automotive's stock price is trading lower after the company announced a mixed shelf offering of up to $1 billion.
The announcement of a mixed shelf offering typically leads to a decrease in the company's stock price in the short term as it implies an increase in the number of shares available, which can dilute existing shareholders' equity. This is likely the reason for the drop in Polestar Automotive's share price.
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