Why Motus GI Holdings (MOTS) Shares Are Down 46%
Portfolio Pulse from Henry Khederian
Motus GI Holdings Inc (NASDAQ:MOTS) shares dropped 46% to $1.16 after announcing a public offering of approximately 3.3 million shares and warrants to raise $5.0 million. The offering includes Series A and Series B warrants with exercise prices of $1.50 per share, expiring in five and eighteen months respectively. The company aims to close the offering by December 21 and will use the proceeds for general corporate purposes and working capital. MOTS has a 52-week high of $23.39 and a 52-week low of $1.16.
December 19, 2023 | 3:03 pm
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Motus GI Holdings' stock price fell sharply due to the announcement of a public offering at a price that is significantly lower than recent trading prices, indicating dilution for existing shareholders.
The sharp decline in MOTS stock price is a direct result of the announced public offering, which typically leads to dilution of existing shares. The offering price is also lower than the current trading price, which can further pressure the stock price downward in the short term.
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IMPORTANCE 90
RELEVANCE 100