Why TransMedics Group Is Plunging Today

Shares of TransMedics Group (NASDAQ: TMDX), a medical device company focused on organ transportation, fell about 16% as of 10:37 a.m. EDT on Wednesday after the company announced the pricing details of a common stock offering.

TransMedics let investors know on Tuesday that it wanted to raise about $60 million through a secondary common-stock offering. The underwriters of the deal were also going to have the option to purchase an additional 15% more shares.

Image source: Getty Images.

Continue reading

Source Fool.com