Torris Holdings shares are trading lower after the company announced the pricing of a public offering of 8 million shares at $4.00 per share to be sold by certain stockholders.
Portfolio Pulse from Benzinga Newsdesk
Torris Holdings shares declined following the announcement of a public offering of 8 million shares at $4.00 each, to be sold by certain stockholders.
September 12, 2024 | 11:41 am
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Torris Holdings' stock price fell after announcing a public offering of 8 million shares at $4.00 per share, indicating potential dilution and increased supply.
The announcement of a public offering typically leads to a decrease in stock price due to potential dilution and increased supply. The offering price of $4.00 may also be perceived as undervaluing the stock, contributing to the decline.
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