Eastside Distilling shares are trading lower after the company filed for a $10 million mixed shelf offering.
Portfolio Pulse from Benzinga Newsdesk
Eastside Distilling's shares are declining following the company's announcement of a $10 million mixed shelf offering.
September 13, 2024 | 6:12 pm
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Eastside Distilling's shares are trading lower due to the announcement of a $10 million mixed shelf offering, which may dilute existing shareholders' equity.
The announcement of a mixed shelf offering often leads to a decrease in stock price due to potential dilution of shares. Investors may react negatively as the offering could dilute existing equity, leading to a drop in share value.
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