Why Jupiter Wellness Stock Is Getting Hammered

Jupiter Wellness Inc JUPW shares are trading lower by 39.10% to $0.62 Thursday morning after the company announced a $4.1 million registered direct offering and private placement.

Jupiter Wellness says it has entered into a definitive agreement with investors for the purchase and sale of 4,315,786 shares in a registered direct offering.

Meanwhile, in a concurrent private placement, Jupiter Wellness also agreed to issue to the same investors a total of 8,631,572 warrants to purchase up to one share of common stock each at an exercise price of $1.00 per share.

See Also: What's Going On With Netflix Shares

The transactions are expected to close on or about January 23, subject to the satisfaction of customary closing conditions.

According to data from Benzinga Pro, JUPW has a 52-week high of $1.64 and a 52-week low of $0.58.

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