- The stock price of Hemisphere Media Group Inc (NASDAQ: HMTV) increased by 25.31% yesterday. This is why it happened.
The stock price of Hemisphere Media Group Inc (NASDAQ: HMTV) increased by 25.31% yesterday. Investors are responding positively to Hemisphere Media Group announcing that due to market conditions, the company has elected to withdraw its previously announced common stock offering, effective immediately.
This offering was opportunistic and at current share price levels is no longer attractive to the company or its shareholders. And as a result of such termination, no shares of common stock will be sold pursuant to the offering.
Hemisphere Media Group has ample liquidity and will continue to fund its ongoing operations from existing liquidity and cash flow from operations. Importantly, Hemisphere Media Group continues to believe it has the necessary capital and financial flexibility to continue to fund its strategic growth initiatives, including investment in content and production for Pantaya.
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