Castor Maritime Doubles in a Week: More to Come?

The Castor Maritime (CTRM) continued to be in focus among investors on Wednesday and delivered gains of 27%. However, in this regard, it is also necessary to note that the stock has managed to deliver significant gains ever since it made a major announcement last week.

Castor Maritime Doubles in a Week: More to Come?

 

Last week, Castor Maritime made an announcement with regards to its registered direct offering and since then the stock has soared by as big as 100%. Considering that development, it is not particularly surprising to see the rally in the stock.

According to the announcement made by the company, Castor Maritime revealed that it entered into a securities purchase agreement with a group of institutional investors. The company is going to issue as many as 137 million common shares and warrants for $0.19 for each unit in the registered direct offering. Castor Maritime aims to raise as big as $26 million from the offering.

Castor Maritime Doubles in a Week: More to Come?

Anthony Gonzales

Biotech, Tech, and Crypto reporterAnthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.