Azitra shares are trading lower after the company filed for a firm commitment public offering of 3 million shares of common stock.
Portfolio Pulse from Benzinga Newsdesk
Azitra Inc.'s stock is trading lower following the company's announcement of a firm commitment public offering of 3 million shares of common stock.
January 19, 2024 | 3:35 pm
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Azitra Inc.'s stock price is expected to face downward pressure in the short term due to the announced public offering of 3 million shares, which could lead to dilution of existing shares.
Public offerings often lead to dilution of existing shares, which can result in a decrease in stock price as the market absorbs the additional share supply. Given that Azitra is directly conducting the offering, the impact on its stock is likely to be significant in the short term.
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