APPH - AppHarvest shares fall over 7% after hours on $40M stock offering
- AppHarvest ( NASDAQ: APPH ) on Wednesday said it commenced a $40 million underwritten public offering of shares of its common stock.
- AppHarvest also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering on the same terms and conditions.
- All of the shares of common stock are being offered by AppHarvest.
- Cowen and Company is acting as book-running manager for the offering.
- The net proceeds of the offering are expected to be used for working capital and general corporate purposes.
- Shares -7.7% after hours.
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AppHarvest shares fall over 7% after hours on $40M stock offering