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Shares of One and One Green Technologies Inc (NASDAQ:YDDL) are trading lower on Monday. The decline follows a weekend of digestion over the company’s latest capital raise strategy.
Massive Discount Triggers Sell-Off
The Philippines-based recycler announced a securities purchase agreement with two institutional investors. The company plans to sell 1.733 million units at $7.50 per unit.
One and One Green expects $13 million in gross proceeds. Management intends to use the funds for working capital and general corporate purposes.
This move comes relatively soon after the company’s October initial public offering, which raised $11.5 …
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