Aclarion (NASDAQ:ACON) stock is falling on Monday after the healthcare technology company announced additional exchange agreements with accredited investors.
According to a filing with the Securities and Exchange Commission (SEC), Aclarion issued 500,000 shares of ACON stock in exchange for $1,185,226 of principal and accrued interest on unsecured non-convertible notes.
Aclarion notes that this saw the total number of outstanding shares of its common stock increase to 1,791,375 shares. It also told investors that it may enact similar exchanges in the future to cover the financing from those notes.
Increasing the total number of shares often results in a stock’s price falling, as is the case with ACON today. That makes sense as it dilutes the stakes of current investors in the company.
ACON Stock Movement on Monday
Shares of ACON stock aren’t seeing too much in the way of trading on Monday. As of this writing, about 367,000 shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is about 1.2 million shares.
ACON stock is down 15.5% as of Monday morning. Investors will note the stock was down 14.4% year-to-date as of Friday’s close.
Traders looking for all of the latest stock market stories are in the right place!
We have all of the hottest stock market news worth reading about on Monday! That includes everything happening with shares of SoFi Technologies (NASDAQ:SOFI) stock, Panbela Therapeutics (NASDAQ:PBLA) stock and Revelation Biosciences (NASDAQ:REVB) stock today. You can read up on these matters at the following links!
More Stock Market News for Monday
- SoFi Technologies Stock Jumps 16% After Reporting First Profit
- Why Is Panbela Therapeutics (PBLA) Stock Down 63% Today?
- Why Is Revelation Biosciences (REVB) Stock Up 61% Today?
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On the date of publication, William White did not have (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.
