Galaxy Payroll slides premarket after $200 million filing
Galaxy Payroll Group Limited GLXG shares dropped almost 20% in the premarket Friday, with the stock indicated at $1.03 before the open. GLXG finished Thursday at $1.29, up 4.03%. On Nasdaq, regular hours are 9:30 a.m. to 4 p.m. Eastern. Premarket starts at 4 a.m. Galaxy Payroll’s shelf registration is now effective, according to a U.S. Securities and Exchange Commission notice. The SEC said the company’s Form F-3 became effective at 4:30 p.m. on June 2. A shelf registration means Galaxy Payroll can sell securities later without needing to file a new registration for each sale.