Mangoceuticals shares are trading lower after the company announced the pricing of a $1.2 million public offering of 4 million shares of common stock at a price of $0.30 per share.
Portfolio Pulse from Benzinga Newsdesk
Mangoceuticals has priced a public offering of 4 million shares at $0.30 per share, aiming to raise $1.2 million. This has led to a decline in the company's stock price.
December 15, 2023 | 5:36 pm
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Mangoceuticals' stock is trading lower due to the announcement of a public offering priced at $0.30 per share, which is likely below the current market price.
The pricing of Mangoceuticals' public offering at $0.30 per share suggests a dilution of the stock's value. This typically leads to a short-term negative impact on the stock price as existing shareholders may see their ownership percentage reduced and the value of their shares potentially diluted. The market often reacts negatively to public offerings priced below the current trading price, which can lead to a decrease in stock price.
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IMPORTANCE 85
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