Business
Why the Althea (ASX:AGH) share price is sinking 6% lower today
The Althea Group Holdings Ltd (ASX: AGH) share price has been a poor performer on Monday and has started the week deep in the red.
In afternoon trade the cannabis company’s shares are down almost 6% to 40 cents.
Why is the Althea share price under pressure?
This morning the company released an update on the share purchase plan component of its capital raising.
This follows the successful completion of its $6 million institutional placement last week, which was undertaken at 44 cents per new share. The offer price represents a 10.2% discount to its share price at the time of the capital raising announcement.
Today’s announcement reveals that the company is pushing ahead with its share purchase plan, with the aim of raising a…
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