🔴 Neo-Concept International Group is trading 11.11% down in pre-market after $2.0 million share offering

Neo-Concept International Group is trading at $1.12, down 11.11% in pre-market after announcing a $2.0 million registered direct offering.

• Announced September 30, the offering is priced at $1.00 per share for 2,000,000 shares; investors may elect up to 200% additional shares under certain conditions, creating potential dilution for existing shareholders.
• The offering is expected to close around October 1, subject to customary conditions.
• Shares fell from $14.65 on September 25 to $1.26 on September 30.