Peraso (NASDAQ:PRSO) stock is falling on Tuesday after the fabless semiconductor company announced details for a proposed public offering of its shares.
According to a filing from Peraso, it intends to offer 1,046,511 shares of PRSO stock. Each of these shares also comes with two types of warrants. The first is Series A Warrants, and the second is Series B Warrants. The warrants allow for the purchase of 2,093,022 shares of PRSO each.
Peraso doesn’t have the final price of the public offering nailed down just yet. Even so, it lists $4.30 in its filing based on its prior closing price. It also doesn’t provide an exercise price for the warrants in the offering.
Underwriters of the offering also have the option to purchase another 156,976 shares within 45 days. These will come with Series A Warrants and Series B Warrants for another 313,953 shares of PRSO stock each.
What This Means for PRSO Stock
A public offering of PROS increases the total number of outstanding shares available on the market. Doing this dilutes the stakes of current investors in the company. That’s likely the main reason why the stock is down today.
PRSO stock is down 42% as of Tuesday morning.
Investors can find even more of the latest stock market stories ready to go at the links below!
We have all of the hottest stock market news for Tuesday! A few examples include what’s happening with shares of Chenghe Acquisition (NASDAQ:CHEA) and InVivo Therapeutics (NASDAQ:NVIV) stock, as well as the biggest pre-market stock movers this morning. You can find all of this news at the following links!
More Tuesday Stock Market News
- Why Is Chenghe Acquisition (CHEA) Stock Up 20% Today?
- Why Is InVivo Therapeutics (NVIV) Stock Up 61% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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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.
