DJ Newgioco Shares Under Pressure After Share Offering Priced
By Robb M. Stewart
Newgioco Group Inc. shares were down sharply Thursday after the sports-betting and gaming technology company priced a $10 million public share offering.
In morning trading, the shares were 24% lower at $2.02. They closed Wednesday at $2.67, and are now down 46% year-to-date.
Newgioco late Wednesday said an offering of almost 4.2 million units was priced at $2.40 each, with each unit consisting of one share and one warrant to buy a share. The underwriters have a 45-day option to buy an additional up to 624,999 shares and/or warrants to buy a similar number of shares at the public offering price.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
August 13, 2020 10:45 ET (14:45 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
