Wearable Devices Announces Pricing Of $2M Underwritten Public Offering Of 4,444,444 Shares Of Common Stock At A Price Of $0.45/Share
Portfolio Pulse from Benzinga Newsdesk
Wearable Devices Ltd. (NASDAQ:WLDS) has announced the pricing of a $2M underwritten public offering of 4,444,444 shares at $0.45 per share. The proceeds will be used for working capital and general corporate purposes. Aegis Capital Corp. has been granted a 45-day option to purchase up to 15% of the shares sold in the offering to cover over-allotments. The offering is expected to close on November 13, 2023.
November 09, 2023 | 2:18 pm
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Wearable Devices Ltd. is raising $2M through a public offering of shares. This could dilute existing shares, potentially impacting the stock price.
Public offerings often lead to share dilution, which can negatively impact the stock price. However, the funds raised can also be used to fuel growth, which could have a positive impact in the long term.
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