bioAffinity Technologies shares are trading lower after the company announced a $2.66 million direct offering of 2.05 million shares.
Portfolio Pulse from Benzinga Newsdesk
bioAffinity Technologies shares fell following the announcement of a $2.66 million direct offering of 2.05 million shares.
October 18, 2024 | 5:51 pm
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bioAffinity Technologies announced a direct offering of 2.05 million shares, raising $2.66 million. This has led to a decrease in the company's stock price.
The direct offering increases the number of shares outstanding, which can dilute the value of existing shares, leading to a decrease in stock price. The market often reacts negatively to such announcements due to potential dilution.
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