Shares of Alpine 4 Holdings (NASDAQ:ALPP) pulled back on Tuesday after the recent jump after announcing new stock offerings.
Trading Data
On Tuesday, ALPP stock slid 10.65% at $2.77 with more than 2.89 million shares, compared to its average volume of 1.46 million shares. The stock has moved within a range of $2.6100 – 2.8800 after opening trade at $2.69.
Directly Offers 8.5 Million Shares to Get $24 Million
Alpine 4 Holdings (NASDAQ:ALPP) announced on November 23, 2021, about entering into definitive agreements with institutional investors for the purchase and sale of 8,571,430 shares of the company’s common stock. The agreement also covers warrants to purchase 4,285,715 shares of their common stock. It is a Nasdaq-traded conglomerate that acquires businesses that align with their disruptive DSF business model of Drivers, Stabilizers, and Facilitators.
The company is diligently working to enable adaptation of new technologies, both digitally and in brick-and-mortar establishments, as they believe it can drive innovation. As per their ideology, their holdings should benefit synergistically from each other, have the ability to collaborate across varying industries, generate new ideas, and create fertile ground for competitive advantages.
Combined purchase price is of $2.80 per one share and accompanying one-half warrant pursuant to a registered direct offering. Warrants will have a price of $3.10 per share and are to be exercised immediately. They expire 5 years after the issuance rate. Closing of the offer is expected to be on or around November 26, 2021, subject to the satisfaction of customary closing conditions. The company expects to raise $24 million through the direct offering. A.G.P./Alliance Global Partners is acting as their sole placement agent for the offering.
Technical Data
ALPP stock is trading below the 20-Day and 50-Day Moving averages of $3.17 and $3.19 respectively. Moreover, the stock is below above 200-Day moving average of $3.54. The stock down 22% in the past month.
