Owlet shares are trading lower after the company announced te pricing of a $46.6 million offering of 3,135,136 shares at $3.70 per share.
Portfolio Pulse from Benzinga Newsdesk
Owlet's stock is trading lower following the announcement of a $46.6 million share offering, pricing 3,135,136 shares at $3.70 each.
September 12, 2024 | 11:51 am
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Owlet's stock is experiencing a decline due to the announcement of a $46.6 million share offering, with shares priced at $3.70 each.
The announcement of a share offering typically leads to a decrease in stock price due to dilution concerns. The pricing of the shares at $3.70 may also be perceived as undervaluing the stock, contributing to the decline.
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