Why Greenbrook (GBNH) Stock Is Trading Sharply Lower
Portfolio Pulse from Henry Khederian
Greenbrook TMS Inc (NASDAQ:GBNH) shares plummeted 44.5% to $0.21 after announcing a direct offering of 6 million shares at $0.20 each, aiming to raise $1.2 million for working capital and general purposes. A.G.P./Alliance Global Partners is the placement agent for the offering, expected to close on February 26.
February 22, 2024 | 4:20 pm
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Greenbrook TMS Inc's stock price fell sharply by 44.5% to $0.21 following the announcement of a direct offering at $0.20 per share, intended to raise $1.2 million.
The significant drop in Greenbrook TMS Inc's stock price is directly attributed to the announcement of a direct offering at a price lower than the current trading price, which typically dilutes the value of existing shares and can lead to a negative perception among investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100