UTime Prices $5M Registered Direct Offering Of 7,692,308 Shares At $0.65/Share
Portfolio Pulse from Benzinga Newsdesk
UTime Limited has announced a $5 million registered direct offering, selling 7,692,308 shares at $0.65 per share.
September 13, 2024 | 1:01 pm
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UTime Limited is conducting a $5 million registered direct offering, issuing 7,692,308 shares at $0.65 each. This move could lead to short-term stock price volatility due to the dilution of existing shares.
The issuance of new shares at a set price can lead to dilution of existing shares, potentially causing downward pressure on the stock price in the short term. The offering price of $0.65 per share is a key factor for investors to consider.
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IMPORTANCE 80
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