Golden Minerals Announces $4.2M Public Offering
Portfolio Pulse from Benzinga Newsdesk
Golden Minerals Company (NYSE:AUMN, TSX:AUMN) has announced the pricing of its public offering of 6,000,000 shares of common stock and Series A and B warrants to purchase up to 9,000,000 shares of common stock, at a price of $0.70 per share. The offering is expected to close on November 8, 2023, and is expected to raise approximately $4.2 million. The proceeds will be used for working capital and other general corporate purposes.
November 06, 2023 | 2:16 pm
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Golden Minerals' public offering of shares and warrants could dilute existing shareholders, potentially leading to a short-term decrease in stock price. However, the raised capital could strengthen the company's financial position.
Public offerings often lead to share dilution, which can negatively impact the stock price in the short term. However, the capital raised can be used to strengthen the company's financial position, which could have positive long-term effects.
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