1847 Holdings shares are trading lower after the company priced an $11.1 million public offering at $1.26 per unit.
Portfolio Pulse from Benzinga Newsdesk
1847 Holdings shares declined following the pricing of an $11.1 million public offering at $1.26 per unit.
October 29, 2024 | 1:20 pm
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1847 Holdings shares are trading lower after the company announced a public offering of $11.1 million at $1.26 per unit, which may dilute existing shareholders' value.
The announcement of a public offering at a set price often leads to a decrease in share price due to potential dilution of existing shares. The offering price of $1.26 per unit is likely perceived as lower than the market value, causing the stock to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100