Although it is true that Tribe Property Technologies Inc (OTCMKTS:TRPTF) made a major announcement yesterday, it did not lead to any major move in the stock and it remained within a range. In this context, it could be a good idea for investors to consider taking a look at the announcement from the company yesterday.
Market Action
On Thursday, TRPTF stock ended flat at $3 with 300 shares traded, compared to its average volume of 40 shares. The stock has moved within a range of $3.0000 – 3.0000 after opening trade at $3.
Tribe Property Technologies Announces Increase in Brokered Financing to $18.3 Million
Tribe Property Technologies announced yesterday that it had decided to raise the size of the marketed private placement that it had announced previously. The private placement offering is going to be led by Stifel GMP as the sole book runner and other entities are also going to be involved as co-lead agents.
It was also noted that Tribe Property Technologies was going to offer its units at the price of $4 each and was looking to raise gross proceeds to the tune of as much as $18.3 million.
The financing is going to be led by Round13 Growth Fund, which is part of the Round13 Capital group of funds. It was a major announcement from the company and it is going to be interesting to see if it leads to any major move in the stock in the coming days.
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