Oct. 24 at 1:08 PM
$RBNE Robin Energy (RBNE) announced a
$7.0 million registered direct offering — they’re selling 6.54 million new shares at
$1.07 each.
That means:
They’re issuing a lot of new shares,
At a price lower than yesterday’s market price (hence the –16% drop).
This dilutes existing shareholders — each share you hold now represents a smaller piece of the company.