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SRGA - Surgalign plunges on launching stock offering
Surgalign Holdings Inc.
Surgalign (NASDAQ:SRGA) plunged 22.7% down after hours on announcing its intention to offer and sell shares and warrants in an underwritten public offering. Underwriters granted 30-day option to purchase additional shares. Net proceeds to be used for working capital and general corporate purposes, including preparation for approval, utilization and ongoing development of its digital health offerings.