FreeCast Stock Falls As Investors Weigh $23.7 Million Private Capital Raise - FreeCast (NASDAQ:CAST)

FreeCast, Inc.

(NASDAQ:CAST) shares fell in Wednesday’s premarket session after the company announced a $23.7 million private placement of common stock and pre-funded warrants.

The stock closed 20% higher on Tuesday before falling in Wednesday’s premarket after the private placement news.

FreeCast Announces $23.7M Private Placement The streaming media platform company entered into securities purchase agreements with new institutional investors and existing long-term investors.

Read Also: Worth Zero: FreeCast Stock Sinks After Explosive Short Seller Report FreeCast will sell 4,666,667 shares of Class A common stock and pre-funded warrants to purchase 3,243,807 shares of common stock.