Q: OGI closed yesterday at $3.65. The company announced this morning that it was selling 7.74 million shares to a syndicate of underwriters for $3.23 per share.
After the market opened, OGI is down >20% to ~$2.85.
Why did the company apparently shoot itself in the foot by doing this?
After the market opened, OGI is down >20% to ~$2.85.
Why did the company apparently shoot itself in the foot by doing this?