Zhongchao To Raise $5M Through Direct Offering Of 4.5M Shares
Zhongchao Inc ("Zhongchao" or the "Company") (NASDAQ:ZCMD), today announced that it has entered into a definitive agreement with certain investors for the purchase and sale of an aggregate of 4,545,455
Zhongchao is selling new shares to raise $5 million, which gives the company cash but also means there will be more shares out there. When a company does this, watch whether they use the money wisely and whether existing shareholders end up owning a smaller slice of the company.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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