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RCAT

Red Cat Holdings Inc (NASDAQ:RCAT) shares dropped 27.7% after announcing a public offering of 16 million shares at $0.50 each, totaling $8 million. The offering includes an underwriter option for an additional 2.4 million shares and is expected to close on December 11. The funds are intended for general corporate purposes. RCAT's 52-week range is $1.54 high and $0.54 low.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 2:56 pm

RCAT

Red Cat Holdings announced the pricing of its public offering, leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:55 pm

ZVSA

ZyVersa Therapeutics Inc (NASDAQ:ZVSA) shares plummeted by 43.7% to $1.20 after announcing a public offering of 4 million shares (or warrants) at $1.25 each to raise $5 million. The offering includes Series A and B warrants for up to 8 million shares at the same price. The funds will be used for general corporate purposes and working capital. The offering is expected to close around December 11.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 2:55 pm

ZVSA

ZyVersa Therapeutics' stock price has dropped following the announcement of a $5 million public offering. The offering could dilute existing shareholders' equity, leading to the decline in stock price.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:54 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN) has announced the pricing of its public offering at $0.06 per share, expecting to raise approximately $2.8 million through the sale of around 46.7 million shares. The offering is scheduled to close on December 11, 2023, with Roth Capital Partners as the sole placement agent. The proceeds are intended for working capital, general corporate purposes, and product initiatives like monetizing its patent portfolio and its digital currencies, PhunCoin and PhunToken.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:53 pm

FLJ

FLJ Group Limited (NASDAQ:FLJ) announced a change in the ratio of its American depositary shares (ADSs) from 1 ADS representing 15,000 Class A shares to 1 ADS representing 600,000 Class A shares, effectively a 1-for-40 reverse ADS split. This change will occur on December 7, 2023, and will require ADS holders to exchange their old ADSs for new ones at the Bank of New York Mellon. No fractional new ADSs will be issued; instead, fractional entitlements will be sold and proceeds distributed to the holders. The company expects the ADS price to increase proportionally but cannot assure it will be equal to or greater than forty times the pre-change price.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:45 pm

MU

Micron Technology (NYSE:MU) has seen a 4.47% increase in short interest since the last report, with 20.47 million shares sold short, representing 1.87% of available shares. It would take about 1.65 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Micron's short interest is below its peer group average of 3.71%.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 2:15 pm

JNJ

Johnson & Johnson's (NYSE:JNJ) short interest has decreased by 8.33% since the last report, with 13.19 million shares sold short, representing 0.55% of available shares. The short interest is below the peer group average of 3.35%. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 2:15 pm

NKLA

Nikola Corp (NYSE:NKLA) shares are plummeting after the company announced plans to offer $100 million of common stock and $200 million of green convertible senior notes due 2026. The offerings include options for underwriters to purchase additional shares and notes. Proceeds from the stock offering will be used for working capital and general corporate purposes, while proceeds from the notes will fund eligible projects. Despite tripling its unrestricted cash since Q1, Nikola's stock has dropped over 54% in 2023 and was down 20.6% to 78 cents.

Portfolio Pulse from Adam Eckert

December 07, 2023 | 2:15 pm

VMD

Viemed Healthcare, Inc. (VMD) has received approval to voluntarily delist its common shares from the Toronto Stock Exchange (TSX) to centralize trading on NASDAQ. The delisting will be effective after market close on December 21, 2023. This move aims to consolidate trading volumes, enhance market efficiency, and increase long-term liquidity and shareholder value on NASDAQ. Viemed's shares will continue to trade on NASDAQ under the symbol 'VMD', and Canadian shareholders will still be able to trade through their brokers on NASDAQ.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:02 pm