Cardiol Therapeutics shares are trading lower after the company announced a $13.5 million public offering of 8,437,500 common shares priced at $1.60 per unit.
Portfolio Pulse from Benzinga Newsdesk
Cardiol Therapeutics shares fell after announcing a $13.5 million public offering of 8,437,500 common shares at $1.60 per unit.
October 09, 2024 | 12:57 pm
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Cardiol Therapeutics announced a public offering of 8,437,500 common shares at $1.60 per unit, raising $13.5 million. This has led to a decrease in share price.
The announcement of a public offering typically leads to a decrease in share price due to dilution concerns. The offering price of $1.60 per unit may also be perceived as undervaluing the stock, contributing to the negative sentiment.
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IMPORTANCE 80
RELEVANCE 100