Bluejay Diagnostics (BJDX) shares sank 48% in premarket activity Tuesday after the company overnight said institutional investors agreed to exercise warrants at a "reduced exercise price."
The medical technology firm said the investors agreed to exercise existing warrants to purchase up to about 1.09 million shares at $3.42 apiece in cash, resulting in about $3.7 million of gross proceeds.
The sharp drop in share price premarket follows a surge of more than 119% in regular trading on Monday.
Price: 3.86, Change: -3.64, Percent Change: -48.13
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