Paltalk drops after filing $50 mln mixed shelf offering

Intelligent Protection Management

06/10/2021 13:52

** Paltalk Inc  PALT.O  shares down 11% premarket to $7.30
after communications software co files for mixed shelf offering
    ** Shares on track to fall for 4th straight session
    ** PALT may offer up to $50 mln of common stock, preferred
stock, warrants and units in any combination, per filing https://www.sec.gov/Archives/edgar/data/1355839/000121390021051435/ea148302-s3_paltalkinc.htm
 
    ** Co has 8.24 mln shares outstanding for ~$68 market cap
and ~3.8 mln of public float, per Refinitiv data
    ** PALT shares have lost 22% so far this month, following
~260% surge on heavy volumes in the last 5 trading days of Sept,
as co garnered social media attention

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))