Why Miromatrix Medical Shares Are Getting Obliterated After Hours

Miromatrix Medical Inc MIRO shares are trading lower by 27.53% to $1.79 during Tuesday's after-hours session. The company announced a proposed offering of common stock of an undisclosed size.

Miromatrix Medical says the offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.

See Also: Li Auto Shares Are Falling Sharply: So What's Up?

The company meanwhile says the net proceeds of the offering are expected to be used for research, development and manufacturing of Miromatrix's product candidates, working capital, capital expenditures and general corporate purposes.

According to data from Benzinga Pro, MIRO has a 52-week high of $5.29 and a 52-week low of $2.02.

Posted In: NewsPenny StocksOfferingsAfter-Hours CenterMoverswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...