Rocky Mountain Chocolate Factory Proposes $2.2M Private Placement Of 1.25M Shares Of Its Common Stock At A Price Of $1.75 Per Share
Portfolio Pulse from Benzinga Newsdesk
Rocky Mountain Chocolate Factory Inc. (NASDAQ:RMCF) announced a $2.2 million private placement of 1.25 million shares at $1.75 per share, a 15% premium to the closing stock price on August 5, 2024. The proceeds will be used for working capital and general corporate purposes.
August 06, 2024 | 12:13 pm
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Rocky Mountain Chocolate Factory Inc. (NASDAQ:RMCF) is conducting a $2.2 million private placement of 1.25 million shares at $1.75 per share, a 15% premium to the closing stock price on August 5, 2024. The proceeds will be used for working capital and general corporate purposes.
The private placement at a 15% premium indicates strong investor confidence and provides the company with additional capital for working capital and general corporate purposes. This is likely to have a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100