search icon

    Market Snapshot

    blog search icon

    Aclarion Inc. (ACON)’s Post IPO Downtrend Converts into Uptrend Premarket

    By Gule Rukhsar

    Apr 25,2022

    3:06 AM UTC

    The recent debutant on Nasdaq, Aclarion Inc. (ACON) has rebounded in today’s premarket, after it made its IPO on April 21, 2022. ACON entered a downtrend in its debut session to register a loss of 37.47% after its downsized IPO. After fluctuating between $2.16 and $3.29 a share, the stock closed the debut session at a price of $2.72 per share.

    At the time of writing on April 25, the stock had increased by 22.43% in the premarket to trade at $3.33 apiece.

    ACON’s Initial Public Offering

    Source: SSL Invest

    On April 21, the company priced its initial public offering of 2,165,000 shares and accompanying warrants at a combined offering price of $4.35 per share. The exercise price of the 2,165,000 warrants was $4.35 each, sold together with common stock shares. Moreover, the gross proceeds of the IPO were $9.4 million, less discounts and commissions. The company also gave a 45-day option to the underwriters for buying additional 324,750 common stock shares and/or warrants.

    Additionally, the company’s common stock and warrants commenced trading on The Nasdaq Capital Market on April 22, 2022. The respective ticker symbols for the stock and warrants are “ACON” and “ACONW”.

    Further, the sole book-running manager for the offering was Maxim Group LLC to the company.

    What’s Going on with ACON?

    The healthcare technology company that optimizes clinical trials through its proprietary biomarker and MRS technology, made its debut on Nasdaq on Friday. Opening trading at a price of $2.90, the stock suffered a downfall in the debut session to register a low of $2.16. Investors seem to have responded negatively to its downsized IPO. The company made over five revisions to its originally proposed IPO including 2,727,273 units at an average price of $5.50 for proceeds of $15.8 million.

    Following a stark decline on its very first day of trading on Nasdaq, the stock has rebounded and is currently trading in the green. Since there is no news from the company, it seems external factors are at play here. Most probably, social media chatter and stock sentiment instigated investor interest in the dip. Hence, investors are gladly buying the dip in today’s premarket to make some gains.

    Conclusion

    After a downsized IPO had ACON trading on Nasdaq on Friday, the stock suffered a huge downfall in its debut session. Currently, the stock had rebounded in the premarket as investors have started buying the dip to make some profits.

    More From Stocks telegraph