Noco-Noco Inc Files Prospectus Relates To Offer And Resale From Time To Time By Selling Stockholders Of Up To 100.3M Ordinary Shares
Portfolio Pulse from Benzinga Newsdesk
Noco-Noco Inc has filed a prospectus related to the potential offer and resale of up to 100.3 million ordinary shares by selling stockholders, as reported by Reuters.
December 13, 2023 | 7:41 pm
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Noco-Noco Inc's filing indicates a potential resale of up to 100.3 million shares by selling stockholders, which could lead to an increase in share supply and possible price pressure.
The filing by Noco-Noco Inc for the resale of a significant number of shares by stockholders suggests an increase in the supply of shares in the market. This could potentially dilute the value of existing shares and exert downward pressure on the stock price in the short term, as the market absorbs the additional share supply.
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