Why Arqit Quantum Stock Dived by 14% This Week
Arqit Quantum (NASDAQ: ARQQ) stock didn't end 2022 on a high note. In the last trading week of the year, the next-generation computing company's share price tumbled by 14%, according to data compiled by S&P Global Market Intelligence. Investors clearly weren't pleased with a new capital-raising effort announced by Arqit.
In a pair of regulatory filings, Arqit disclosed that it may issue up to $100 million in a variety of debt and equity instruments. These may consist of one, several, or all of the company's ordinary shares, preference shares, debt securities, and warrants.
Of that figure, up to $50 million will consist of ordinary shares disbursed via an at-the-market (ATM) offering.
Source Fool.com
