XWELL Announces $1.4M Registered Direct Offering Of An Aggregate Of 652,705 Shares Of Its Common Stock, At A Purchase Price Of $2.18 Per Share
Portfolio Pulse from Benzinga Newsdesk
XWELL, Inc. (NASDAQ:XWEL) announced a $1.4 million registered direct offering of 652,705 shares of its common stock at $2.18 per share. The offering is expected to close around August 8, 2024, and the proceeds will be used for working capital and general corporate purposes.
August 06, 2024 | 1:25 pm
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XWELL, Inc. announced a $1.4 million registered direct offering of 652,705 shares at $2.18 per share. The offering is expected to close around August 8, 2024, and the proceeds will be used for working capital and general corporate purposes.
The direct offering is priced at a premium to market, which is generally positive. However, the issuance of new shares can dilute existing shareholders' value, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100