Xos Shares Slide After Company Files Registered Direct Offering to Raise About $6M
Xos Inc. stock plunged in premarket trading after the company disclosed a registered direct offering that will issue 1,090,910 shares at $5.50 apiece, raising roughly $6 million. The Los Angeles-based electric commercial vehicle manufacturer said net proceeds will support its expansion into grid-independent power markets for AI data centers and ind…