Swarmer Inc (NASDAQ:SWMR) shares are moving lower in Wednesday’s after-hours session after the company filed a prospectus registering up to three million shares of common stock for resale under a new equity purchase agreement.
Swarmer stock is taking a hit today. Why are SWMR shares down?
Swarmer Establishes Lucid Liquidity Line
Swarmer filed a prospectus covering the potential resale of up to three million shares by Lucid Capital Markets under a common stock purchase agreement, the company calls the “Lucid Liquidity Line.”
Under the agreement, Swarmer may issue and sell up to three million shares to Lucid Capital Markets over time, establishing a liquidity line.
