24/7 Market News- FangDD Enters $2.5 Million Registered Direct Offering
DENVER, Colo., Oct 02, 2024 (247marketnews.com)- Fangdd Network (NASDAQ: DUO) stated that it entered into a securities purchase agreement to issue and sell 1,612,902 Class A ordinary shares for$1.55 per share, in a registered direct offering that is expected to close today.
FangDD intends to use the net offering proceeds for general corporate purposes.
Experienced traders have been nervously trading FangDD, knowing that when stocks make a huge move like FangDD has the Companies often bail out the shorts with a large offering well below the market price, which kills the momentum. While this funding is below the market, it’s way too small to bail out the shorts, so this may behave different than most funding rally killers.
MoBot posted Fangdd (NASDAQ: DUO) on Sep 11 at $0.555 and multiple times since. Please go to 247marketnews.com to sign up for free MoBot alerts and view Mobot’s real time data
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