Chewy Inc. (CHWY) saw its shares decline in after-hours trading following the announcement of a $500 million stock offering by a selling stockholder and a concurrent share repurchase. The selling stockholder, an entity affiliated with Chewy’s largest shareholder, will offer the shares, while Chewy itself will repurchase $300 million worth of its stock from the same seller.
Vivos Therapeutics Inc. (VVOS) shares plunged 26.1% on Thursday after the company announced a $4.3 million registered offering of 1.36 million shares. The offering, expected to close on September 20, will generate approximately $4.3 million in gross proceeds and will be used for working capital and general corporate purposes. This news follows a recent discussion on whether VVOS is a good stock to buy, with analysts focusing on the company’s capital allocation strategy, including dividend payouts and stock buyback programs.
Relay Therapeutics Inc (RLAY) shares plummeted over 17% on Wednesday after the company announced a $200 million stock offering. The offering, led by Goldman Sachs, TD Cowen, Stifel, and BofA Securities, is expected to close around September 12th. Investors are considering the impact of this offering on the stock’s future performance, with the RSI indicating overbought conditions.
AST SpaceMobile, Inc. (ASTS) announced plans to offer up to $400 million worth of Class A common stock, leading to a significant drop in share price. The company will use the proceeds for general corporate purposes, including its upcoming satellite launch. This offering comes alongside the company’s expected $155 million from warrant redemptions, putting its total cash at over $440 million.
