Why Golden Minerals (AUMN) Shares Are Nosediving

Golden Minerals Co AUMN shares are trading lower by 15.26% to $1.61 Tuesday morning after the company announced a $2.1 million registered direct offering.

What Else?

Golden Minerals has entered into definitive agreements for a registered direct offering, involving the purchase and sale of 1,427,587 common stock shares at a price of $1.45 per share.

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Simultaneously, the company will issue unregistered warrants allowing the purchase of up to 1,427,587 common stock shares at an exercise price of $1.90 per share.

The offering is anticipated to close on or about June 29, pending customary closing conditions.

According to data from Benzinga Pro, AUMN has a 52-week high of $9.65 and a 52-week low of $1.45.