BYND Cannasoft stock drops on announced secondary offering

Shares of BYND Cannasoft Enterprises Inc.
BCAN,
-0.45%
shares dropped in the extended session Friday after the cannabis business software company said it was issuing a secondary offering. BYND Cannasoft shares fell 19% after hours, following a 0.5% rise to close Friday at $3.12. The Israel-based company said it plans to use proceeds from the offering for working capital, but did not state how large an offering or under what terms. Aegis Capital will act as sole underwriter, and securities by the underwriter will not be offered in Canada, the company said.