Why UTime (WTO) Stock Is Down 17% Today
Why UTime (WTO) Stock Is Down 17% Today
The move aimed to meet Nasdaq's minimum $1.00 bid price requirement for continued listing.UTime Ord Shs (NASDAQ:WTO) shares are trading lower by 16.8% to $0.64 during Friday's session after the company announced a $5 million registered direct offering of 7,692,308 shares at $0.65 per share.
UTime Ord Shs (納斯達克: WTO)股票在週五交易中下跌了16.8%，至0.64美元，因公司宣佈以每股0.65美元的價格進行一項500萬元的直接註冊發行，發行數量爲7,692,308股。
The offering is expected to close around September 16, pending standard closing conditions. Gross proceeds are estimated at $5 million, before deducting expenses.
預計該交易將在9月16日左右結束，視標準交割條件而定。總募得資金估計爲500萬元，扣除費用之前。
What Else: UTime shares also fell this week after the company announced and effected a 1-for-25 reverse share split.
此外：UTime股票在本週宣佈並實施進行了1比25的逆向股票分割後也出現了下降。
The move aimed to meet Nasdaq's minimum $1.00 bid price requirement for continued listing.
此舉旨在滿足納斯達克繼續上市的最低1.00美元買盤價格要求。
The company said the reverse split will reduce the total number of outstanding shares from 450 million to approximately 18 million.
該公司表示，逆向股票分割將使流通股總量從45000萬股減少至約1800萬股。
Read Also: Tenon Medical (TNON) Stock Is Up 180%: What's Going On?
閱讀更多：Tenon Medical (TNON)股票上漲180%：出現什麼情況？
According to data from Benzinga Pro, WTO has a 52-week high of $62.25 and a 52-week low of $0.58.
根據Benzinga Pro的數據，WTO的52周最高價爲62.25美元，52周最低價爲0.58美元。
