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Investing.com -- 180 Life Sciences Corp (NASDAQ:ATNF) stock plunged 25% after the company announced it had entered into a sales agreement to potentially sell up to $500 million worth of common stock shares.
The biopharmaceutical company disclosed on August 13, 2025, that it had established an "at-the-market" offering program with Clear Street LLC acting as sales agent. Under the agreement, 180 Life Sciences will be able to sell shares from time to time, with the sales occurring either in negotiated transactions or as part of an at-the-market offering.
The offering is being made pursuant to a prospectus supplement filed with the Securities and Exchange Commission, which supplements the company’s shelf registration statement that was declared effective on June 26, 2025.
The sales agreement allows Clear Street to sell the company’s common stock on existing trading markets, including the principal market where 180 Life Sciences shares are listed. The significant size of the potential offering relative to the company’s market capitalization appears to be driving the sharp decline in share price.
At-the-market offerings typically allow companies to raise capital by selling shares incrementally at prevailing market prices, but they can put downward pressure on stock prices due to the potential dilution of existing shareholders’ equity.
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