By Colin Kellaher
Shares of OmniQ plunged in premarket trading Friday after the provider of artificial intelligence-based solutions said it was raising $3 million in a dilutive public stock offering.
The Salt Lake City, Utah, company said it is selling three million shares at $1 apiece, well below Thursday’s closing price of $1.60.
Shares of OmniQ, which had about 7.89 million shares outstanding before the offering, were recently down 44% to 89.3 cents in premarket trading.
Write to Colin Kellaher at [email protected]
Read the full article here
