BioNexus Gene Lab (NASDAQ:BGLC) stock is taking off on Friday after the company uplisted its shares to the Nasdaq Capital Market.
That saw the company’s shares start trading on the Nasdaq yesterday. With that came a public offering for the company’s shares. That included 1.25 million shares priced at $4 per share.
BioNexus Gene Lab notes that gross proceeds from the offering should total $5 million. There’s also an option for more funds if underwriters exercise their 45-day rights to acquire an additional 187,500 shares at the public offering price.
BGLC Stock Movement
BGLC stock underwent a rally yesterday following its debut on the Nasdaq. That saw some 2 million shares change hands and the stock increase 39.1% during normal trading hours.
It appears that investors are still excited about the BGLC stock uplisting, considering the movement we’re seeing on Friday morning. As of this writing, more than 1.7 million shares have changed hands. For comparison, its daily average trading volume is closer to 104,000 shares. That also has BGLC stock up 63.9% as of Friday morning.
BioNexus Gene Lab is a wholesaler of chemical raw material products. It mainly operates in Malaysia, Indonesia, Vietnam and other Southeast Asian countries. The firm was founded in 2017 and operates out of Kuala Lumpur, Malaysia.
Investors looking for even more of the most recent stock market news will want to keep reading!
We have all of the biggest stock market stories that traders need to know about on Friday! That includes a look at the biggest pre-market stock movers this morning, the latest news concerning shares of Proterra (NASDAQ:PTRA) stock and more. You can catch up on all of this news at the links below!
