Enovix shares are trading lower after the company announced a $100 million public offering of 10,416,667 common shares.
Portfolio Pulse from Benzinga Newsdesk
Enovix shares declined following the announcement of a $100 million public offering of 10,416,667 common shares.
October 31, 2024 | 1:28 pm
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Enovix shares are trading lower after the company announced a $100 million public offering of 10,416,667 common shares.
The announcement of a public offering typically leads to a decrease in stock price due to dilution concerns. The $100 million offering of 10.4 million shares suggests a significant increase in the number of shares, which can dilute existing shareholders' value.
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