What's going on with the sharp drop in RiceBran Technologies stock?
RiceBran Technologies RIBT shares are trading down 17.50% at $1.32 on Tuesday morning after the company announced a registered direct offer of $1.5 million for $1.50 per share.
What else?
RiceBran Technologies says the offering is expected to close on or about October 20, subject to satisfaction of customary closing conditions.
The company intends to use the net proceeds of this offering for general corporate purposes, which may include funding capital expenditures and working capital and debt repayment.
See also: Why Bitcoin and Ethereum Stocks Silvergate Capital get hammered
According to data from Benzinga Pro, RiceBran Technologies has a 52-week high of $9 and a 52-week low of $1.32.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
RiceBran Technologies RIBT shares are trading down 17.50% at $1.32 on Tuesday morning after the company announced a registered direct offer of $1.5 million for $1.50 per share.
What else?
RiceBran Technologies says the offering is expected to close on or about October 20, subject to satisfaction of customary closing conditions.
The company intends to use the net proceeds of this offering for general corporate purposes, which may include funding capital expenditures and working capital and debt repayment.
See also: Why Bitcoin and Ethereum Stocks Silvergate Capital get hammered
According to data from Benzinga Pro, RiceBran Technologies has a 52-week high of $9 and a 52-week low of $1.32.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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