Nxu Entered Into At-The-Market Offering Deal, May Offer, Sell Shares Of Class A Common Stock With Price Of Up To $14.8M From Time To Time
Portfolio Pulse from Benzinga Newsdesk
Nxu has entered into an at-the-market offering agreement according to an SEC filing, which allows them to offer and sell shares of their Class A common stock intermittently, with a total potential value of up to $14.8 million.
November 24, 2023 | 2:00 pm
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Nxu may experience increased stock liquidity and potential dilution of shares due to the at-the-market offering deal allowing sales of Class A stock up to $14.8M.
At-the-market offerings typically allow companies to sell shares directly into the market, which can increase liquidity but also lead to dilution of existing shareholders' equity. The potential sale of up to $14.8 million worth of shares could have a negative impact on the stock price in the short term due to the dilution effect.
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