Nuwellis shares are trading lower after the company announced the pricing of a $2.25 million public offering of Series J Convertible Redeemable Preferred Stock and Warrants.
Portfolio Pulse from Benzinga Newsdesk
Nuwellis has announced the pricing of a $2.25 million public offering of Series J Convertible Redeemable Preferred Stock and Warrants, causing its shares to trade lower.
October 13, 2023 | 2:45 pm
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Nuwellis' stock is trading lower after the company announced a $2.25 million public offering of preferred stock and warrants.
The announcement of a public offering often leads to a decrease in the company's stock price in the short term as it dilutes the value of existing shares. This is likely the reason for the drop in Nuwellis' stock price.
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