Instinct Bio Stock Slides After Hours: Here's What is Going on With BIOT
Instinct Bio stock falls after hours after announcing a proposed $150 million equity purchase facility.
Instinct Bio announced a plan to sell new shares to raise $150 million (money for the company), and the stock price dropped after the market closed. When companies issue new shares, existing shareholders own a smaller piece of the company, which is why investors reacted negatively.
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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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