🔴 Rua Bioscience is trading 9.37% down today after announcing a discounted 1-for-3 rights issue

Rua Bioscience is trading at NZD 0.03, down 9.37%, after announcing a discounted 1-for-3 renounceable rights issue.

• The offer seeks to raise up to NZD 2.8 million at NZD 0.025 per share, a 32% discount to its recent 20-day volume-weighted average price.
• Proceeds are intended to fund working capital, marketing and fulfilment of international demand; discounted fundraising and dilution concerns appear to be the clearest catalyst.