Why Is Aquestive Therapeutics (AQST) Stock Down 14% Today?

Group 1 - Aquestive Therapeutics is conducting a public offering of 16,666,667 shares at a price of $4.50 each, with an additional 30-day option for underwriters to purchase 2.5 million shares at the same price [1] - The company anticipates gross proceeds of $75 million from this offering, which will be utilized for the development and commercialization of its product pipeline, including Anaphylm Sublingual Film and Libervant Buccal Film [1] - The public offering will increase the total number of outstanding shares, leading to dilution of current shareholders' stakes, contributing to a decline in stock price [2] Group 2 - The offering price of $4.50 represents a significant discount from the previous closing price of $5.34, resulting in a drop in stock price to align more closely with the offering price [2] - As of Wednesday morning, AQST stock has decreased by 14%, although it has seen a year-to-date increase of 165.7% prior to this announcement [2]