Why Nemaura Medical Stock Is Getting Hammered

Nemaura Medical Inc NMRD shares are trading lower by 38.8% to $1.75 Friday morning after the company announced pricing of a roughly $8.4 million registered direct offering and concurrent private placement.

Nemaura Medical says the closing of the offering and the concurrent private placement is expected to occur on or about January 31, subject to the satisfaction of customary closing conditions.

Nemaura intends to use the net proceeds for working capital and general corporate purposes.

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According to data from Benzinga Pro, Nemaura Medical has a 52-week high of $4.58 and a 52-week low of $1.50.