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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
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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