Xos Inc (NASDAQ:XOS) stock fell sharply on Thursday after the electric commercial vehicle maker announced a dilutive capital raise to support its expansion strategies.
The Nasdaq is down 0.38% while the S&P 500 has gained 0.38%. • Xos shares are retreating from recent levels.
What's pressuring XOS stock?
Direct Offering Details Drag Down Equity On Thursday, Xos entered into a securities purchase agreement with institutional investors for a registered direct offering.
The company is selling 1,090,910 shares of its common stock at a purchase price of $5.50 per share.
