Why Green Giant (GGE) Stock Hit A New All-Time Low Today

Zinger Key Points
  • Green Giant shares are trading lower by 36% Tuesday morning.
  • The company announced a securities purchase agreement to sell units totaling $5.95 million.

Green Giant Inc GGE shares are trading lower by 36% to $0.098 Tuesday morning after the company announced a securities purchase agreement to sell units totaling $5.95 million.

These units include common stock shares, Class A and Class B common warrants to purchase shares, and pre-funded units with respective warrants. The sale involves 35,000,000 units priced at $0.17 per unit.

The warrants have specific terms for exercise prices and conditions, with a provision for a shareholders' meeting to increase the authorized share capital.

Maxim Group LLC is the sole placement agent for this offering, which is expected to close around December 14, 2023, pending customary closing conditions.

See Also: November Inflation Report

According to data from Benzinga Pro, GGE has a 52-week high of $3.30 and a 52-week low of $0.09.

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