Company Update (NASDAQ:INVT): Here’s Why Inventergy Global Inc Are Falling 32% Today
Following yesterday’s rollercoaster trading session, which ended on the downside, Inventergy Global Inc (NASDAQ:INVT) investors are having another rough day after the company has priced a registered public offering of shares of common stock and warrants with gross proceeds of approximately $6.0 million.
Investors will receive 6,000,000 shares of its common stock at a price to the public of $1.00 per share and warrants to purchase up to 6,000,000 shares of common stock, exercisable for a period of five years, with an exercise price of $1.00 per share. The warrants are exercisable immediately. The closing of the offering is expected to take place on or about October 11, 2016, subject to satisfaction of customary closing conditions. (Original Source)
The public offering would dilute shareholders’ investments, and as such Inventergy shares are currently dropping nearly 32% to $0.837 in early trading Thursday. INVT stock has a 1-year high of $3.67 and a 1-year low of $0.71. The stock’s 50-day moving average is $1.58 and its 200-day moving average is $1.65.
Inventergy Global, Inc. operates as a intellectual property company, which is engaged in identifying, acquiring and licensing the patented technologies of market-significant technology leaders. The company is headquartered in Campbell, CA.