Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Medical device firm Nuwellis Inc's (NASDAQ: NUWE) share price is on the slide premarket after announcing an underwritten public offering.
While the amount of share being offered was not given, Nuwellis, formerly called CHF Solutions, said it intends to grant the underwriters a 45-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering.
Ladenburg Thalmann & Co. Inc. is acting as sole book-running manager in connection with the offering.
The funds raised by the offering will be used for general corporate purposes, including the continued investment in commercialization efforts.
The news has seen Nuwellis shares plunge 25.2% premarket to $2.76. Over a week ago, Lake Street analyst Brooks O'Neil initiated coverage of Nuwellis with a Buy rating and $9 price target.
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .