Hyzon Motors (HYZN) Stock Plunges 50% on Share Offering. What's Going On?
HYZNHyzon Motors (HYZN) Investor Place·2024-07-20 03:02

Hyzon Motors (NASDAQ:HYZN) stock is plummeting nearly 50% after the company announced that it had entered into a securities purchase agreement with certain institutional investors in a registered direct offering.As part of the agreement, investors will purchase 22.5 million shares of HYZN and warrants to purchase 22.5 million shares of HYZN at a combined offering price of 20 cents per share. The warrants have an exercise price of 30 cents per share and can be immediately exercised with an expiration date fi ...