Hyzon Motors shares are trading lower after the company announced a $4.5 million registered direct offering of 22.5 million shares of its Class A Common Stock and warrants at $0.20 per share and accompanying warrant.
Portfolio Pulse from Benzinga Newsdesk
Hyzon Motors shares are trading lower following the announcement of a $4.5 million registered direct offering of 22.5 million shares of its Class A Common Stock and warrants at $0.20 per share and accompanying warrant.
July 19, 2024 | 3:43 pm
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Hyzon Motors shares are trading lower after the company announced a $4.5 million registered direct offering of 22.5 million shares of its Class A Common Stock and warrants at $0.20 per share and accompanying warrant.
The announcement of a registered direct offering typically leads to a dilution of existing shares, which can negatively impact the stock price in the short term. The offering price of $0.20 per share is likely perceived as low, contributing to the downward pressure on the stock.
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