Why Yield10 Biosciences Stock Is Nosediving

Yield10 Bioscience, Inc. YTEN shares are trading lower by 58.4% to $0.42 Friday morning after the company announced pricing of a $3.7 million public offering.

Yield10 Bioscience has priced a public offering of 5.75 million units at $0.65 per unit. Each unit includes one common stock share and one warrant for another share. The warrants can be exercised at $0.65 per share and expire in five years.

Gross proceeds, before fees and expenses, are about $3.7 million. The offering closes around August 15, subject to standard conditions.

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According to data from Benzinga Pro, YTEN has a 52-week high of $11.14 and a 52-week low of $3.46.