Why Nutex Health (NUTX) Shares Are Trading Higher

Nutex Health Inc NUTX shares are trading higher by 15.04% to $1.10 Wednesday morning after the company announced it entered into a $100 million pre-paid advance agreement with Yorkville Advisors Global.

Nutex says, in accordance with the terms of the pre-paid advance, the company may request advances of up to $25 million from Yorkville Advisors Global, which will be purchased by the investor at 90% of the face amount.

Nutex says future Pre-Paid Advances will range from $5 million to $25 million depending on stock price and volume conditions being met, with an aggregate limitation on the Pre-Paid Advances of $100 million.

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"We intend to use proceeds of the funding to support the company's growth, accelerate its footprint, support opportunistic acquisitions, potential stock buybacks and for working capital," stated Warren Hosseinion, M.D., President of Nutex Health.

According to data from Benzinga Pro, NUTX has a 52-week high of $13.81 and a 52-week low of $0.50.