05:53 AM EDT, 04/08/2025 (MT Newswires) -- Bluejay Diagnostics ( BJDX ) shares sank 48% in premarket activity Tuesday after the company overnight said institutional investors agreed to exercise warrants at a "reduced exercise price."

The medical technology firm said the investors agreed to exercise existing warrants to purchase up to about 1.09 million shares at $3.42 apiece in cash, resulting in about $3.7 million of gross proceeds.

The sharp drop in share price premarket follows a surge of more than 119% in regular trading on Monday.

Price: 3.86, Change: -3.64, Percent Change: -48.13