🔴 Rua Bioscience is trading 12.5% down today after announcing a discounted 1-for-3 rights issue

Rua Bioscience is trading at NZD 0.03, down 12.50%, after announcing a 1-for-3 renounceable rights issue priced at NZD 0.025 per share.

• The offer seeks up to NZD 2.8 million, a 32% discount to the 20-day VWAP.
• Funds are intended for working capital, inventory and international marketing; the discounted issue raises dilution concerns.
• Shares also declined on September 21 and September 18, extending recent weakness.