Akoustis Technologies shares are trading lower after the company announced pricing of a public offering of $10 million of common stock.
Portfolio Pulse from Benzinga Newsdesk
Akoustis Technologies' stock price is trading lower following the announcement of a public offering of $10 million of its common stock.
January 25, 2024 | 3:55 pm
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NEGATIVE IMPACT
Akoustis Technologies' share price is expected to face downward pressure in the short term due to the dilutive effect of the new public stock offering.
Public offerings often lead to dilution of existing shares, which can result in a decrease in share price as the market absorbs the additional stock. Given that Akoustis Technologies has announced a significant offering of $10 million, this is likely to have a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100