Why Neptune Wellness Solutions Shares Are Nosediving Today

Neptune Wellness Solutions Inc. NEPT shares are trading lower by 32.2% to $1.97 after the company announced a $5 million registered direct offering.

Neptune says the company intends to use the net proceeds from the offering for working capital and other general corporate purposes. Neptune added that the offering is expected to close on or about June 23, 2022, subject to the satisfaction of customary closing conditions.

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Neptune Wellness Solutions is a health and wellness company.
According to data from Benzinga Pro, Neptune Wellness Solutions has a 52-week high of $44.45 and a 52-week low of $1.95.