SOUN Stock Falls on $150M Secondary Offering Plan Causing Investor Dilution Concerns
• SOUN stock is falling due to plans for a $150 million secondary offering • The offering will result in dilution of existing shares • SOUN stock is down 8.6% so far today on high volume • Proceeds will be used to pay the offering's managers, including Citigroup and Barclays Capital • Investors are concerned about dilution from the new shares being offered