Aclarion (NASDAQ:ACON) stock is falling on Monday after the healthcare technology company revealed plans for a public offering of its shares.
Aclarion intends to offer up to 3,888,888 units in this offering. Each of these units will contain one share of ACON stock and a warrant to acquire another share.
The finer details of the public offering still aren’t available. While the company has an assumed price of $1.80 per unit, that’s not concrete. It also hasn’t revealed the exercise price of the warrants in the offering.
What is worth mentioning is that Aclarion hopes to raise $7 million from this public offering. Maxim Group LLC is listed as its exclusive placement agent for the offering.
What’s Behind the ACON Stock Offering
Aclarion notes that this stock offering comes as it faces delisting from the Nasdaq Exchange. This is due to its failure to maintain a minimum of $2,500,000 in stockholders’ equity.
Aclarion is looking to increase its stockholder’s equity through this public offering and regain compliance with Nasdaq standards. The cutoff date to do this is tomorrow.
ACON stock is down 19.2% Monday morning as some 580,000 shares change hands. The company’s daily average trading volume is above that at 1.3 million shares.
There are even more stock market stories traders are going to want to read about down below!
We have all of the hottest stock market news investors need to know about on Monday! A few examples include why shares of Freight Technologies (NASDAQ:FRGT) and ZyVersa Therapeutics (NASDAQ:ZVSA) stock are up today, as well as the biggest pre-market stock movers this morning. All of that info is ready to go at the following links!
More Monday Stock Market News
- Why Is Freight Technologies (FRGT) Stock Up 25% Today?
- Why Is ZyVersa Therapeutics (ZVSA) Stock Up 37% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
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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.
