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Perfect Moment Stock Plummets 35% Following Public Offering Announcement
Perfect Moment Stock Plummets 35% Following Public Offering Announcement
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BTCCSquare news:
Perfect Moment's PMNT shares cratered 35% after pricing a $3 million public offering at 30 cents per share, a steep discount to Thursday's 42-cent close. The skiwear brand's dilution play triggered a selloff, extending its year-to-date decline to 57.6%.
ThinkEquity underwrites the 10-million-share deal, with a 1.5-million-share greenshoe option. Proceeds will service debt and fund operations, but investors punished the stock for its dilutive effect—240,000 shares changed hands in premarket trading alone.
The offering compounds PMNT's brutal 12-month performance, now down 80% since last June. Market participants are voting with their feet, seeing little 'perfect' in this moment for shareholders.
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