- LumiraDx ( NASDAQ: LMDX ) plunged 10% in premarket after it commenced an underwritten public offering of 40M shares; underwriters granted 30-day option to purchase up to an additional 6M shares.
- Offer size, terms have not yet been decided.
- Net proceeds along with its existing cash and equivalents to be used for general corporate purposes, including working capital in respect to R&D, business development, and sales and marketing activities as well as ordinary course capital expenditures.
For further details see:
LumiraDx under pressure on 40M in stock offering