INVO Bioscience (NASDAQ:INVO) stock is on the rise Monday after the company announced a public share offering on Friday.
According to a Securities and Exchange Commission (SEC) filing from INVO Bioscience, certain investors may offer up to 6,241,493 shares of INVO stock. The stocks in this offering are connected to several funding and equity deals from earlier in 2023.
To go along with this, the company sold warrants to some of these investors as well. While the company won’t see any proceeds from the stock sales, it will generate some money when investors exercise those warrants.
INVO Bioscience notes that if all 5,698,572 warrant shares are exercised, the company would see proceeds of $3.6 million. However, it can’t guarantee that this will happen. It also notes that it’s taken on the financial responsibility of registering the shares in this offering.
INVO Stock Movement Today
In addition to the stock offering news, shares of INVO stock are seeing incredibly heavy trading on Monday morning. As of this writing, more than 20 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 343,000 shares.
INVO stock is up 81.7% as of Monday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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