Strike (ASX:STX) share price freefalls 9% on capital raising efforts

The Strike Energy Ltd (ASX: STX) share price has come out of a trading halt today following the company’s successful placement. While Strike is pleased with the latest capital raising efforts, its shares have plummeted 9.33% to 34 cents.

Let’s take a closer look and see what Strike updated the ASX with.

Why is the Strike share price in negative territory?

A major catalyst for Strike shares sinking could be investor concerns about the impending dilution of shares.

According to its release, Strike advised it has received binding commitments from an array of institutions to raise $75 million. The strongly supported placement primarily…