Foresight Autonomous Holdings Announces Pricing Of $4.5M Registered Direct Offering Of 4.5M American Depositary Shares At A Price Of $1/ADS
Portfolio Pulse from Benzinga Newsdesk
Foresight Autonomous Holdings has announced a registered direct offering of 4.5 million shares at a price of $1 per share, aiming to raise $4.5 million in capital.
December 07, 2023 | 1:32 pm
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Foresight Autonomous Holdings is raising capital through a direct offering of 4.5 million shares at $1 each, totaling $4.5 million.
The direct offering is likely to have a dilutive effect on existing shares, which can lead to a short-term decrease in share price. Investors often view direct offerings at a price lower than the current market price as negative because it suggests the company may be in urgent need of capital and it increases the number of shares outstanding, thus diluting the value of existing shares.
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