Akoustis Prices $10M Registered Direct Offering Of 50M Shares Of Common Stock At A Price Of $0.20/Share, Priced At-The-Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
Akoustis Technologies, Inc. (AKTS) has announced a $10 million registered direct offering priced at-the-market under Nasdaq rules.
May 22, 2024 | 6:26 pm
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Akoustis Technologies, Inc. (AKTS) has announced a $10 million registered direct offering priced at-the-market under Nasdaq rules. This move could lead to short-term stock price volatility as the market reacts to the dilution of shares.
The announcement of a $10 million registered direct offering typically leads to a dilution of existing shares, which can result in a short-term decrease in stock price as the market adjusts to the increased supply of shares.
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