The BrainChip Holdings Ltd (ASX: BRN) share price finished the session on Wednesday near flat at 65.5 cents.
This followed a dramatic morning that saw the BrainChip share price pop then drop within the space of 75 minutes immediately after the market open.
The semiconductor company's shares opened at 65.5 cents and quickly climbed to an intraday day of 67.5 cents. That was a 3.8% bump on the previous closing price.
Then just as dramatically, the share price fell to an intraday low of 63.5 cents by about 11:15am. That was a 2.3% drop on yesterday's close.
There is no price-sensitive news from the tech company today.
Image source: Getty Images
BrainChip issues 7.5 million new shares for employees
In a cleansing notice published by the ASX this morning, BrainChip said:
BRN today issued 7,500,000 fully paid ordinary shares (Shares) to the Trustee of the Brainchip Long Term Incentive Plan Trust for the purposes of administering the Long Term Incentive Plan.
The Shares were issued without disclosure to investors in accordance with Part 6D of the Corporations Act.
BrainChip now has about 1.73 billion shares on issue, as well as about 100 million unquoted securities.
What's happening with the BrainChip share price?
The share issue follows a horror month for the BrainChip share price.
As my Fool colleague James reported, the stock lost a quarter of its value in October.
Most of the fall came after the company released its Q3 FY22 update last Thursday.
That update revealed that the company generated cash receipts of just US$118,000 during the three months to 30 September. That's a decrease of US$1.1 million on the receipts generated in Q2 FY22.
The BrainChip share price is down 18% in the year to date.
BrainChip not the only one issuing new ASX shares today
Core Lithium Ltd (ASX: CXO) also issued a stack of new ordinary shares today — 870,872 to be exact.
According to the cleansing notice, 700,000 shares are for employees who exercise their unquoted performance rights for nil consideration.
A further 170,872 shares were issued at 45 cents per share for investors who have exercised unquoted options.
