Meta Materials Raising US$25M
Dartmouth-based advanced manufacturing company Meta Materials said Friday it will sell another 83 million of its shares at US$0.30 apiece on the Nasdaq stock exchange to raise US$25 million, or C$33.4 million, sending its stock price tumbling.
Its shares shed 40 percent of their value on the announcement, falling to a low of just under US$0.22 Friday, and its market capitalization slid to just