WiSA Technologies shares are trading lower after the company announced the pricing of a $2.3 million registered direct offering of 76,676,478 shares of common stock and a concurrent private placement priced at-the-market.
Portfolio Pulse from Benzinga Newsdesk
WiSA Technologies announced a $2.3 million registered direct offering and a concurrent private placement of 76,676,478 shares of common stock, priced at-the-market, causing its shares to trade lower.
March 26, 2024 | 1:26 pm
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WiSA Technologies' stock is trading lower due to the announcement of a $2.3 million registered direct offering and a concurrent private placement of 76,676,478 shares of common stock.
The announcement of a significant number of new shares being offered at-the-market typically dilutes existing shareholders' equity, leading to a decrease in stock price as supply exceeds demand.
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