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Femto Technologies Inc (NASDAQ:FMTO) shares are trading lower by 27% to $2.11 during Thursday’s session after the company filed to sell 233.35 million shares of common stock for holders.
What To Know: A Wednesday SEC filing outlines the potential resale of up to 233.35 million common shares of FMTO by selling shareholders.
These include existing shares and those issuable upon warrant exercises. FMTO itself is not offering shares and will not receive proceeds from resale but may gain funds from warrant exercises.
Additionally, per the SEC filing, the company says the registered shares represent nearly 80 times FMTO's current outstanding shares, posing risks of significant stock price declines and volatility.
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According to data from Benzinga Pro, FMTO has a 52-week high of $90.76 and a 52-week low of $2.07.
Posted In: FMTO
