The company was planning to raise $6 million at a $77 million market cap. Proceeds of the deal were to be used for working capital, but also to fund acquisitions of new businesses or technology.
More Stories
This is what the Fed’s interest-rate cut means for distressed companies
This week’s aggressive Fed rate cut could provide some breathing space for distressed companies, notes one bankruptcy attorney.
High-yield bond ETF rallies after Fed rate cut as ‘free ride’ in cash ends
Investors are mulling strategies beyond cash on expectations that interest rates will continue to fall after the Fed’s big rate...
Traders brace for volatility as more than $5 trillion in options set to expire in latest ‘triple witching’
It’s that time again: Investors will see option contracts tied to more than $5 trillion in tradeable stocks expire on...
Dow surges to record as investors celebrate Fed’s ‘recalibration’ rate cut
Fed Chair Jerome Powell emphasized a policy “recalibration.” Investors like the sound of it.
Fed is more worried about labor market than Powell let on, William Dudley says
Federal Reserve Chair Jerome Powell did a “great job” of explaining the reasons for an aggressive interest-rate cut in a...
FedEx stock falls as company narrows its full-year forecast
The package-delivery giant said reduced demand for priority services and higher operating costs weighed on results.