Why Is Bruush Oral Care (BRSH) Stock Up 70% Today?


  • Bruush Oral Care (BRSH) stock is jumping on a warrant agreement.
  • This has certain shareholders exercising their warrants today.
  • The agreement also awards them additional warrants expiring in 2028.
BRSH Stock - Why Is Bruush Oral Care (BRSH) Stock Up 70% Today?

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Bruush Oral Care (NASDAQ:BRSH) stock is rising on Thursday after the oral care company announced an update concerning its warrants.

According to a filing, Bruush Oral Care has reached an agreement with certain holders of its warrants for them to exercise them. These are warrants that were issued as part of a $3 million private placement.

With this news, the holders of the warrants have agreed to exercise them for $3.33 apiece. That has them obtaining 633,026 shares as part of the agreement. Doing so also provides Bruush Oral Care with additional funding from the warrants being exercised.

To go along with that, Bruush Oral Care signed an agreement to provide the investors with more warrants after they exercise the prior ones. This has them gaining enough warrants to acquire another 1.58 million shares of the company’s stock. These new warrants don’t expire until June 9, 2028.

How This Affects BRSH Stock Today

With news of the warrants being exercised and new ones being issued, shares of BRSH stock are seeing heavy trading on Thursday. As of this writing, more than 2.8 million shares have been traded. To put that in perspective, the daily average trading volume of BRSH shares is about 440,000 units.

BRSH stock is up 69.9% as of Thursday morning but was down 84.3% year-to-date (YTD) as of Wednesday’s close.

Investors seeking out even more of the most recent stock market news for Thursday will want to keep reading!

We’ve got all of the latest stock market stories that traders need to know about this morning! That includes a look at the biggest pre-market stock movers today, the latest news concerning shares of WeWork (NYSE:WE) stock, as well as what’s going on with Bed Bath & Beyond (OTCMKTS:BBBYQ) shares. You can catch up on all of these matters by checking out the links below!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/08/why-is-bruush-oral-care-brsh-stock-up-70-today/.

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