VBI Vaccines shares are trading lower after the company announced a $2 million registered direct offering at $0.88 per share.
Portfolio Pulse from Benzinga Newsdesk
VBI Vaccines shares are trading lower following the announcement of a $2 million registered direct offering priced at $0.88 per share.
April 09, 2024 | 7:55 pm
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NEGATIVE IMPACT
VBI Vaccines announced a $2 million registered direct offering at $0.88 per share, leading to a decrease in its stock price.
The announcement of a registered direct offering at a price below the current market rate typically leads to a decrease in stock price due to dilution of shares and the perception of the company needing to raise funds. Given the direct impact of this news on VBI Vaccines, it's likely to negatively affect the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100