Microbot Medical shares are trading lower after the company announced the exercise of outstanding preferred investment options for $2.73 million in gross proceeds priced at-the-market under Nasdaq rules.
Portfolio Pulse from Benzinga Newsdesk
Microbot Medical's stock is trading lower following the company's announcement of the exercise of preferred investment options, resulting in $2.73 million in gross proceeds. The options were exercised at-the-market under Nasdaq rules.
December 29, 2023 | 6:47 pm
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Microbot Medical's stock price is down after the company exercised preferred investment options, generating $2.73 million in gross proceeds at-the-market.
The exercise of preferred investment options typically dilutes existing shareholders, which can lead to a decrease in stock price. Since the options were exercised at-the-market, it suggests that the new shares were sold at current market prices, which does not provide a premium to current investors. This often results in a negative short-term impact on the stock price.
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