Wearable Devices shares are trading lower after the company announced the pricing of a $2 million underwritten public offering of 4,444,444 shares of common stock at a price of $0.45 per share.
Portfolio Pulse from Benzinga Newsdesk
Wearable Devices has announced the pricing of a $2 million underwritten public offering of 4,444,444 shares of common stock at a price of $0.45 per share. This has led to a decrease in the company's share price.
November 09, 2023 | 5:57 pm
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Wearable Devices' stock price is trading lower after the announcement of a $2 million public offering of shares at $0.45 each.
The announcement of a public offering usually leads to a decrease in the company's share price. This is because it dilutes the value of existing shares. In this case, Wearable Devices' shares are trading lower after the announcement of a $2 million underwritten public offering.
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