Bone Biologics shares are trading lower after the company announced a registered direct offering of 1,139,063 shares at $0.64 per share.
Portfolio Pulse from Benzinga Newsdesk
Bone Biologics Corp. (BBLG) announced a registered direct offering of 1,139,063 shares at a price of $0.64 per share, causing its stock to trade lower.
November 17, 2023 | 5:25 pm
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Bone Biologics Corp. is experiencing a decline in stock price after announcing a direct offering of shares at a price that may be perceived as dilutive to existing shareholders.
The announcement of a registered direct offering typically leads to a short-term negative impact on a company's stock price due to the dilution of existing shares and the perception that the offering price may be below the current market value. In the case of BBLG, the offering price is set at $0.64 per share, which investors may view as a negative signal, leading to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100