Nexalin Technology shares are trading lower after the company announced the pricing of a $5.25 million public offering of 3 million shares at $1.75 per share.
Portfolio Pulse from Benzinga Newsdesk
Nexalin Technology shares are trading lower following the announcement of a $5.25 million public offering of 3 million shares at $1.75 per share.
June 28, 2024 | 11:49 am
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Nexalin Technology shares are trading lower after the company announced a $5.25 million public offering of 3 million shares at $1.75 per share.
The announcement of a public offering typically leads to a dilution of existing shares, which can negatively impact the stock price in the short term. The offering price of $1.75 per share is likely perceived as lower than the current market value, contributing to the decline.
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