$20.4M Financing Fuels ProMIS Neurosciences; Dragonfly Energy Misses Estimates
- August 21st, 2023
- 361 views
Shares of ProMIS Neurosciences Inc. (Nasdaq: PMN) surged over 20% in after-hours trading following the announcement of a private investment financing for gross proceeds of approximately $20.4 million. The financing is set to conclude on August 23, 2023, contingent on standard closing conditions.
Notably, some of the company's directors and officers are taking part in the investment, subscribing for about $145,000 of Common Share Units. This subscription by insiders is categorized as a "related party transaction."
$PMN was trading at $1.96 in after-hours, up $0.37 (+23.27%)
Shifting focus, Dragonfly Energy Holdings Corp. (Nasdaq: DFLI), a notable player in the energy sector, disclosed a second-quarter 2023 loss of $(0.25) per share, falling short of the consensus estimate loss of $(0.19). The company's quarterly sales amounted to $19.30 million, slightly below analysts' projected revenue of $20.80 million.
The Company's core markets, largely driven by consumer discretionary spending, continue to pose challenges. Looking ahead to Q3 2023, Dragonfly Energy expects a loss ranging from $(0.27) to $(0.21) per share, contrasting with the consensus loss estimate of $(0.07) per share for the period.
In after-hours, $DFLI was trading at $1.59, down $0.33 (-17.40%).
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
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