Wearable Devices Announced Proposed Underwritten Public Offering
Portfolio Pulse from Charles Gross
Wearable Devices Ltd. (NASDAQ:WLDS) has announced its intention to offer its securities in a firm commitment underwritten public offering. The net proceeds from this offering will be used for working capital. The company also expects to grant Aegis Capital Corp. a 45-day option to purchase additional ordinary shares of up to 15% of the number of ordinary shares sold in the offering to cover over-allotments.
November 08, 2023 | 10:59 pm
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Wearable Devices Ltd.'s public offering could potentially dilute existing shareholders' equity, but it will provide the company with additional working capital.
The public offering could dilute the value of existing shares, which may negatively impact the stock price in the short term. However, the additional working capital could support the company's growth, which may have a positive impact in the long term.
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