Virios Therapeutics shares are trading lower after the company priced a $1.7 million pubic offering of 8.5 million shares of common stock at $0.20 per share.
Portfolio Pulse from Benzinga Newsdesk
Virios Therapeutics shares are trading lower after the company priced a $1.7 million public offering of 8.5 million shares of common stock at $0.20 per share.
May 20, 2024 | 11:36 am
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Virios Therapeutics shares are trading lower following the announcement of a $1.7 million public offering of 8.5 million shares at $0.20 per share. This dilution of shares is likely causing the stock price to drop.
The public offering increases the number of shares outstanding, which dilutes the value of existing shares. This typically leads to a decrease in the stock price, as seen with the current trading activity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100