Why Hall of Fame Resort & Entertainment (HOFV) Stock Is Getting Hammered

Hall of Fame Resort & Entertainment Co HOFV shares are trading lower by 26.7% to $3.30 Wednesday morning after the company announced a proposed public offering of common stock and warrants.

HOFV says the company will be the exclusive provider of all common stock shares, warrants and the common stock shares underlying the warrants within this offering.

The completion, size, and terms of the offering are subject to market conditions and not guaranteed. Maxim Group LLC is the exclusive book-runner for this offering.

According to data from Benzinga Pro, HOFV has a 52-week high of $16.50 and a 52-week low of $3.30.