Hyzon Announces Pricing Of $4.5M Registered Direct Offering Of 22.5M Shares Of Its Class A Common Stock And Warrants To Purchase 22.5M Shares Of Its Common Stock, At A Combined Offering Price Of $0.20 Per Share
Portfolio Pulse from Benzinga Newsdesk
Hyzon Motors Inc. (NASDAQ:HYZN) announced a $4.5M registered direct offering of 22.5M shares of its Class A Common Stock and warrants to purchase 22.5M shares at $0.20 per share. The offering is expected to close around July 22, 2024, with proceeds used for working capital and general corporate purposes.
July 19, 2024 | 1:30 pm
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Hyzon Motors Inc. announced a $4.5M registered direct offering of 22.5M shares and warrants at $0.20 per share. The offering is expected to close around July 22, 2024, with proceeds used for working capital and general corporate purposes.
The announcement of a direct offering typically leads to a short-term decrease in stock price due to dilution concerns. The offering price of $0.20 per share is significantly lower than the current market price, which may further pressure the stock.
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