Versus Systems Inc (VS)

[StockLogistics]

Quadrupled the number of shares when stock was 1.49 / 4 = .3725. Currently trading at .78. Makes no sense imo. No news has been released:

“8:24a ET 12/7/2022 - Dow Jones
Versus Systems Shares Tumble Premarket on Public Offering >VS

Shares of Versus Systems Inc. plunged in premarket trading Wednesday after the video game software company said it was raising $2.1 million in a dilutive public stock offering.

The Vancouver, British Columbia, company is offering 2.1 million equity units, each consisting of one share or prefunded warrant, along with two warrants to buy additional shares, at $1.00 a unit, well below Tuesday's closing price of $1.49.

Versus, which had about 2.07 million shares outstanding before the offering, said the warrants are exercisable immediately at $1.10 a share.

Shares of Versus were recently down 44% to 83.5 cents in premarket trading.

(END) Dow Jones Newswires

December 07, 2022 08:24 ET (13:24 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.”