Digital Brands Group shares are trading lower after the company announced the pricing of $3 million public offering of 30 million common stock and pre-funded warrants at $0.10 per share.
Portfolio Pulse from Benzinga Newsdesk
Digital Brands Group shares fell after announcing a $3 million public offering of 30 million common stock and pre-funded warrants at $0.10 per share.
October 29, 2024 | 2:22 pm
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Digital Brands Group shares declined due to the announcement of a $3 million public offering, which involves issuing 30 million common stock and pre-funded warrants at $0.10 per share.
The announcement of a public offering typically leads to a decrease in stock price due to potential dilution. The offering price of $0.10 per share is likely perceived as low, contributing to the negative sentiment.
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