Reported Monday, Greenwave Technology Plans Offering To Certain Institutional And Accredited Investors 420.596M Shares Of Common Stock In Registered Direct Offering
Portfolio Pulse from Benzinga Newsdesk
Greenwave Technology announced a registered direct offering of 420.596 million shares of common stock to certain institutional and accredited investors. Additionally, in a concurrent private placement, the company is selling unregistered warrants to purchase up to 420.596 million shares of common stock.
May 21, 2024 | 11:49 am
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Greenwave Technology is issuing 420.596 million shares of common stock in a registered direct offering and unregistered warrants for the same amount in a concurrent private placement.
The issuance of a large number of shares and warrants can lead to dilution of existing shares, which typically puts downward pressure on the stock price in the short term.
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IMPORTANCE 80
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