Miromatrix Medical (NASDAQ:MIRO) slid by more than 30% in pre-market trading on Wednesday as the company that is working on a novel technology company to create fully transplantable human organs priced its public offering of 6.25 million shares of its common stock at a price of $1.60 per share. The gross proceeds of this offering are expected to be $10 million.
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The offering is expected to close on March 10 and the underwriters of this offering will be granted a 30-day option to purchase up to an additional 937,500 shares of its common stock at the price of its public offering.
MIRO stock has tanked by around 30% in the past year.
