Here's Why Save Foods Stock Is Lower By Over 30% Tuesday

Save Foods Inc SVFD shares are trading lower by 36.3% to $3.03 Tuesday morning after the company priced a 1.6 million share common stock offering at $3 per share.

What Else?

The offering is expected to close on August 18th, subject to satisfaction of customary closing conditions.

The underwriters have also been granted a 45-day option to purchase up to 240,000 additional shares of Common Stock from Save Foods, exercisable in whole or in part, solely to cover over-allotments, at the public offering price less the underwriting discount.

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According to data from Benzinga Pro, Save Foods has a 52-week high of $9.60 and a 52-week low of $2.74.