Upstart Holdings Inc. (UPST) shares are trading lower on Tuesday following the company’s announcement of a proposed private offering of $425 million in convertible senior notes. The move comes despite strong third-quarter financial results that exceeded analyst expectations, showcasing robust lending volume growth and a return to positive adjusted EBITDA. The offering aims to provide Upstart with funds for general corporate purposes, including debt repayment.
NioCorp Developments Ltd (NB) shares took a significant hit on Monday morning, dropping by 8.18% to $1.46, following the company’s announcement of both a public and private offering of common shares. The offerings, designed to raise a combined $6 million, will see the company issue shares with warrants at a price of $1.57 per unit. The funds are intended for general corporate purposes, including advancing NioCorp’s critical minerals project in Nebraska, the Elk Creek Project.
