Fitness Champs Hldgs (NASDAQ:FCHL, NASDAQ:FCHL) plunged 33.67% in after-hours trading on Tuesday, falling to $1.95, after the Singapore-based company disclosed plans for a large securities offering through a Form F-1 filing with the Securities and Exchange Commission.
FCHL closed the regular session up 19.05% at $2.94.
Overview
Fitness Champs stock has declined more than 95% over the past year, with the stock trading near its 52-week low of $2.05 compared to a high of $114.60. The latest after-hours decline comes as investors react to the company’s plans to raise capital.
Dilution Concerns
The company’s filing shows it intends to offer up to 6 million units, each including a share or pre-funded warrant along with a warrant to purchase additional shares. Beyond the initial issuance, the structure …
