It cannot be denied that in recent times there has been significant interest in stocks which are involved in the lithium exploration space and one of those is Rock Tech Lithium (OTCMKTS:RCKTF).
Trading Data
On Thursday, RCKTF stock fell 7.31% to $4.80 with more than 7k shares, compared to its average volume of 26k shares. The stock has moved within a range of $4.8013 – 4.9500 after opening trade at $4.95.
Announces Closing of First Tranche of Private Placement
Yesterday, the company was in focus after it announced that it had managed to complete the first tranche of the private placement that it had announced previously. In this brokered placement, the company placed units in Rock Tech with investors from both the United States and the rest of the world. The units in question were offered for $4.20 each. In total, Rock Tech issued a total of as many as 9430476 units and managed to bring in gross proceeds to the tune of as much as $39.6 million.
Each unit offered by the company was made up of one common share in Rock Tech and one share purchase warrant. The holder of a solitary warrant is going to be entitled to pick up one common share in Rock Tech for an exercise price of C$6.77 and the offer is going to be in place up until June 30, 2024. The news however did not come as a boost for the Rock Tech stock and it declined by as much as 7% for the day.
Technical Data
RCKTF stock is trading below the 20-Day and 50-Day Moving averages of $5.02 and $5.61 respectively. However, the stock is trading above the 200-Day moving average of $4.37. The stock is down 10% in the past month.
