SciSparc shares are trading lower after the company announced it entered into a Standby Equity Agreement with the Selling Shareholder, which provided for the sale of up to $20 million Ordinary Shares.
Portfolio Pulse from Benzinga Newsdesk
SciSparc shares declined following the announcement of a Standby Equity Agreement with a Selling Shareholder, allowing for the sale of up to $20 million in Ordinary Shares.
August 29, 2024 | 4:03 pm
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SciSparc's stock is trading lower due to a new Standby Equity Agreement with a Selling Shareholder, which involves selling up to $20 million in Ordinary Shares.
The announcement of a Standby Equity Agreement typically signals potential dilution of existing shares, which can lead to a decrease in stock price as investors react to the increased supply of shares.
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