Why the Calix (ASX:CXL) share price is down today

The Calix Ltd (ASX: CXL) share price opened 5% lower this morning, as the company declared its plans to embrace future-focused technology, funded by a share placement.

The tech company announced it would accelerate its investments in environmental, social and corporate governance (ESG) projects. At the time of writing, the Calix share price is trading at $2.19, down 2.67%.

Let’s take a closer look at what the tech company announced this morning.

Environmentally-friendly tech

In today’s release, Calix advised it will issue 7 million new shares to sophisticated and professional investors at $2 each, hoping to raise $14 million for its technology projects. It was also offering a new share purchase plan to existing eligible…