JanOne falls on discounted equity offering

AI Financial

29/01/2021 15:23

** Pain medications maker JanOne Inc  JAN.O  down 11.4% at
$11.51 after co announces $6 mln equity offering 
    ** Co says it has signed an agreement with institutional
investors to sell 571,428 shares at a price of $10.50 per share
- ~19% below JAN's closing price on Thursday
    ** JAN has more than doubled in value this week, including a
36.5% jump on Thursday, as certain stocks experienced extreme
volatility in a social media-fueled trading frenzy  urn:newsml:reuters.com:*:nL4N2K34D7
    ** Offering represents over 31% of co's current outstanding
shares  urn:newsml:reuters.com:*:nPn67GZmla
    ** Cannabis co Sundial Growers  SNDLO.O , a Reddit favorite,
also dips on Friday after announcing an equity offering
 urn:newsml:reuters.com:*:nL4N2K440Z
    

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday  ;))