Why Is Shineco (SISI) Stock Down 54% Today?
SISIShineco(SISI) Investor Place·2024-07-12 20:27

Shineco (NASDAQ:SISI) stock is falling hard on Friday after the agricultural produce company announced the pricing of a public offering for its shares.This public offering has Shineco selling 1,869,160 shares of SISI stock for $1.07 each. The offering also includes a 45-day option for underwriters to acquire another 280,374 shares at the public offering price.Shineco is expecting $2 million in gross proceeds from this public offering. The sole book-running manager for the offering is EF Hutton LLC.How This ...