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MDxHealth Shares Plunge on New Offering

Company seeks $40M by offering ordinary shares

MDxHealth SA, an Irvine-based maker of noninvasive prostate tests, said it intends to raise $40 million by offering ordinary shares.

Shares fell 19% in after-hours trading to $2.07 each. They had risen almost 1% to $2.54 and a $69 million market cap in regular trading today.

The company reported cash and cash equivalents of $21.3 million as of June 30.

TD Cowen and William Blair are joint book-running managers for the offering.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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