22nd Century Group Intends To Offer & Sell In A "Best Efforts" Public Offering Shares Of Its Common Stock & Warrants To Buy Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
22nd Century Group has announced its intention to offer and sell shares of its common stock and warrants to buy shares of its common stock in a 'best efforts' public offering, according to an SEC filing.
October 16, 2023 | 9:04 pm
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22nd Century Group's announcement of a 'best efforts' public offering of its common stock and warrants could potentially dilute existing shareholders' equity, which may lead to a short-term decrease in the stock price.
The announcement of a 'best efforts' public offering often leads to a short-term decrease in the stock price due to potential dilution of existing shareholders' equity. As the company is directly offering and selling more shares, this increases the supply of shares, which can lead to a decrease in the stock price if demand does not increase proportionally.
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