WiSA Technologies shares are trading lower after the company announced the pricing of a $10 million public offering of 153,840,000 unit at $0.065 per unit.
Portfolio Pulse from Benzinga Newsdesk
WiSA Technologies announced the pricing of a $10 million public offering, consisting of 153,840,000 units at $0.065 per unit, leading to a decrease in its share price.
February 12, 2024 | 3:39 pm
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NEGATIVE IMPACT
WiSA Technologies' share price has decreased following the announcement of a $10 million public offering at $0.065 per unit.
Public offerings often lead to a decrease in share price due to the dilution of existing shares. The pricing of WiSA Technologies' offering at $0.065 per unit, which is likely below the current market price, suggests a significant dilution effect, hence the negative impact on the stock price.
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IMPORTANCE 90
RELEVANCE 100