Nxu Announces $3M Public Offering Of Common Stock Of 86M Shares At $0.035/Share
Portfolio Pulse from Benzinga Newsdesk
Nxu has announced a public offering of 86 million shares of its common stock at $0.035 per share, aiming to raise $3 million.
October 19, 2023 | 1:16 pm
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Nxu's public offering of 86 million shares at $0.035 per share could dilute existing shareholders' equity.
The public offering of 86 million shares by Nxu could lead to dilution of existing shareholders' equity. This is because the number of shares outstanding will increase, potentially reducing the value of existing shares. This could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100