Azitra shares are trading lower after the company priced a $5 million public offering of 16.667 million common shares at $0.30 per share.
Portfolio Pulse from Benzinga Newsdesk
Azitra's stock is trading lower following the announcement of a $5 million public offering, which includes 16.667 million common shares priced at $0.30 each.
February 14, 2024 | 1:09 pm
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Azitra's shares are trading lower due to the pricing of a significant public offering at a potentially dilutive price.
The announcement of a public offering, especially when priced below the current market rate, can lead to dilution of existing shares, causing a decrease in share value. This is a common reaction as investors adjust to the new equity structure and the implications it has on the value of their holdings.
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