SmartHeat Down 10% (NASDAQ)

Shares of SmartHeat Inc

are getting hit hard today, The company priced its 5 millionn share common stock offering at $5 per share. At last check, shares of HEAT were off 60 cents to trade at $5.05, a loss of 10.62%‎. SmartHeat designs, manufactures, sells, and services plate heat exchangers (PHE) and related systems used in the industrial, residential, and commercial markets in China.