LiveOne Entered Sales Agreement, Pursuant To Which Co May Sell, From Time To Time, Aggregate Of Up To $25M Of Shares Of Common Stock; Does Not Currently Intend To Sell Shares Under Sales Agreement At Price Lower Than $5.00/Share
Portfolio Pulse from Benzinga Newsdesk
LiveOne has entered into a sales agreement allowing the potential sale of up to $25M of its common stock, with a current intention not to sell shares at a price lower than $5.00 per share, according to an SEC filing.
May 14, 2024 | 8:57 pm
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LiveOne's new sales agreement could lead to the sale of up to $25M in common stock, with a floor price of $5.00 per share, as per an SEC filing.
The announcement of a sales agreement by LiveOne indicates a potential increase in the company's liquidity, which could be positive. However, the intention not to sell shares below $5.00 may limit downward pressure on the stock price in the short term. The impact on the stock price will depend on investor perception of the company's need for additional capital and the potential dilution of existing shares.
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