Swarmer Inc (NASDAQ:SWMR) shares are moving lower in Wednesday’s after-hours session after the company filed a prospectus registering up to three million shares of common stock for resale under a new equity purchase agreement.

Swarmer stock is taking a hit today. Why are SWMR shares down?

Swarmer Establishes Lucid Liquidity Line

Swarmer filed a prospectus covering the potential resale of up to three million shares by Lucid Capital Markets under a common stock purchase agreement, the company calls the “Lucid Liquidity Line.”

Under the agreement, Swarmer may issue and sell up to three ...