India, June 12 -- Perpetua Resources Corp. (PPTA) shares dropped 19.41 percent, or $3.20 on Thursday, after the company announced an upsized bought deal offering. The company will now issue over 24.6 million shares at $13.20 each, raising approximately $325 million. The Offering is expected to close on or about June 16.
The stock is currently trading at $13.29, down from a previous close of $16.49 on the Nasdaq. It opened at $13.59 and has traded between $12.85 and $13.70 so far today, with volume reaching 8.48 million shares.
Perpetua shares have ranged from $5.01 to $17.96 over the past 52 weeks. The sharp decline reflects investor dilution concerns despite strong institutional interest in the offering.
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