Shares of Meta Materials (NASDAQ: MMAT) surged in pre-market trading on Monday as the nanocomposites and functional materials company announced on Friday that it was looking at a public offering worth $250 million.
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Meta Materials has been on a downslide in the past year and the stock has more than halved in value.
Earlier this month, the company announced its Q3 results. MMAT’s revenues soared 329% year-over-year to $2.5 million while the loss came in at $0.07 per share versus a loss of $0.04 in the same period last year.