03:29 AM EDT, 09/26/2024 (MT Newswires) -- MDxHealth ( MDXH ) said late Wednesday it has priced a public offering of 20 million ordinary shares at $2 per share for gross proceeds of $40 million.

The company said a strategic partner is buying 1.5 million shares directly from the company instead of through the underwriters.

It also granted underwriters an option to purchase up to 2.8 million additional shares.

The offering is expected to close Friday. MDxHealth ( MDXH ) intends to use net proceeds for general corporate purposes.

The company's shares fell more than 17% in after-hours activity Wednesday.

Price: 2.0999, Change: -0.44, Percent Change: -17.33