Why Nutex Health Stock Is Surging After Hours

Nutex Health Inc NUTX shares are trading higher in Tuesday's after-hours session after the company entered into a $100 million pre-paid advance agreement with Yorkville Advisors.

The Details: Nutex entered into an advance agreement with Yorkville, under which the company can request advances of up to $25 million to be purchased by the investor at 90% of face value. The agreement caps the aggregate total at $100 million.

Nutex said it expects to use the proceeds to support company growth and opportunistic acquisitions and accelerate its footprint, as well as for potential buybacks and working capital. 

"We are pleased to announce this funding from Yorkville which we believe is a strong endorsement of our work to deliver high-quality, efficient and accessible healthcare," said Tom Vo, chairman and CEO of Nutex Health.

"We have full conviction in our integrated, value-based approach to inpatient and outpatient care and believe that this funding puts us in a strong position to capitalize on growth opportunities."

See Also: Why Lucid Stock Shot Up Today

NUTX Price Action: Nutex has a 52-week high of $13.81 and a 52-week low of 50 cents.

The stock was up 16.1% after hours at $1.11 at the time of writing, according to Benzinga Pro.

This illustration was generated using artificial intelligence via MidJourney.