Why Goldgroup Mining Stock Wilted Today
It's floating a potentially rather dilutive issue of stock and warrants.
Overview
Goldgroup Mining (NYSEMKT: GORO) is tapping investors for a new round of capital, and Mr. Market wasn't happy about this. After the company announced the measure on Wednesday morning, its stock fell underwater and largely stayed there, ending the day nearly 6% down in price.
Goldgroup is floating up to 20.5 million-plus "units" at a price of $3.65 apiece. The units consist of one common share of the issuer and one-half of a warrant to purchase that equity.
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Details
Source
Originally published at www.fool.com.
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