Why Ohmyhome (OMH) Stock Is Trading Sharply Lower
Portfolio Pulse from Henry Khederian
Ohmyhome Ltd (NASDAQ:OMH) shares dropped 27% to $1.65 after announcing an upsized public offering of 3,555,555 shares at $1.35 each, aiming to raise about $4.8 million. The offering, managed by Maxim Group LLC, is expected to close on February 16. Ohmyhome is a Singapore-based property technology platform offering a range of property solutions.
February 14, 2024 | 1:39 pm
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Ohmyhome's stock price fell sharply by 27% to $1.65 following the announcement of an upsized public offering of shares at $1.35 each, with the goal of raising approximately $4.8 million.
The sharp decline in Ohmyhome's stock price can be attributed to the market's reaction to the public offering's pricing, which is lower than the current trading price. This often leads to a dilution of existing shares, causing investors to adjust their valuation of the company downwards. The significant drop reflects investor concerns over dilution and the pricing strategy of the offering.
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