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Why NuZee Stock Is Down Over 40% Wednesday

NuZee Inc (NASDAQ: NUZE) shares are trading lower by 43% to $2.95 during Wednesday's session after the company priced a $1.275 million underwritten public offering of 425,000 shares of its common stock at a public offering price of $3.00 per share.<
byHenry Khederian
October 18, 2023
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NuZee Inc (NASDAQ:NUZE) shares are trading lower by 43% to $2.95 during Wednesday’s session after the company priced a $1.275 million underwritten public offering of 425,000 shares of its common stock at a public offering price of $3.00 per share.

Maxim Group LLC is the sole book-running manager for the offering. Additionally, there is a 45-day option for the underwriter to purchase up to 63,750 additional shares at the same price.

The public offering is anticipated to close around October 20, pending customary closing conditions.

See Also: What’s Going On With Intel Stock?

According to data from Benzinga Pro, NuZee has a 52-week high of $21.35 and a 52-week low of $2.71.

 
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