🔴 Xos Inc is trading 10% down today after announcing a $6 million discounted equity raise

Xos Inc is trading 10% down at $4.75 today after announcing a $6 million registered direct offering.

• The company launched the offering of 1,090,910 shares at $5.50 per share to raise gross proceeds of approximately $6 million.
• The stock is facing renewed pressure in pre-market trading due to dilution concerns, following a prior 36.3% selloff tied to the deal.