INDP is trading 6.7% down at $2.80 in pre-market action after announcing a $12 million Regulation S private placement.
- The company plans to issue 20 million common shares at $0.60 per share to non-U.S. accredited investors.
- The significant discount to the current market price has triggered investor concerns regarding share dilution.
- Sentiment is further pressured by broader market weakness as early futures trade lower.