Here's Why Performance Shipping Stock Is Lower By Over 50% Friday

Performance Shipping Inc PSHG shares are trading lower by 52.33% to $0.29 during Friday's trading session after the company priced its 33 million share offering at $0.45 per share.

What Else?

Performance Shipping says the warrants will be immediately exercisable, will expire five years from the date of issuance, and will have an initial exercise price of $0.45 per common share. The gross proceeds to the Company from the Offering are estimated to be approximately $15.0 million before deducting the placement agent's fees and other Offering expenses.

See Also: If You Invested $100 In Ethereum Classic, Dogecoin And Ripple (XRP) In March 2020, Here's How Much You'd Have Now

According to data from Benzinga Pro, Performance Shipping has a 52-week high of $6.10 and a 52-week low of $0.22.