What's Going On With Verb Technology Stock?

Verb Technology Company Inc VERB shares are trading lower by 18% to $0.13 Friday morning after the company recently concluded a $3 million preferred stock financing for its MARKET.live platform.

The financing, designed as non-convertible preferred stock, is considered non-dilutive for existing shareholders. The company finalized the deal with an established family office investor, selling 3,000 shares of newly designated non-convertible Series C Preferred Stock at $3 million.

These Preferred Shares carry a 10% stated annual dividend, no voting rights and a face value of $1,300 per share. The raised funds are earmarked for supporting MARKET.live's growth and general corporate purposes.

See Also: Benzinga's 'Stock Whisper' Index

According to data from Benzinga Pro, VERB has a 52-week high of $23.20 and a 52-week low of $0.13.