Ensysce Biosciences shares are trading lower after the company announced a $5 million registered direct offering and concurrent private placement.
Portfolio Pulse from Benzinga Newsdesk
Ensysce Biosciences shares declined following the announcement of a $5 million registered direct offering and concurrent private placement.
August 29, 2024 | 12:14 pm
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Ensysce Biosciences shares fell due to the announcement of a $5 million registered direct offering and concurrent private placement, which can dilute existing shares.
The announcement of a registered direct offering and private placement typically leads to concerns about share dilution, which can negatively impact the stock price. The $5 million offering suggests a need for capital, which might worry investors about the company's financial health.
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