Epicquest Education Group shares drop 44.52% intraday after announcing a $3.7 million direct offering at $0.73 per share, diluting shares and triggering sell-offs.

Epicquest Education Group International Limited plunged 44.52% intraday, following the company's announcement of a $3.7 million registered direct offering at $0.73 per share, diluting shares and triggering sell-offs. The stock had surged 113.71% the previous day on strong half-yearly results, with revenue up 29% to $5.37 million but a net loss of $0.156 million.