Shares of ConforMIS Inc. plunged 35% in active premarket trade Thursday, after the maker of joint replacement implants priced a large stock offering at a deep discount. The stock was the biggest percentage decliner ahead of the open. Premarket volume topped 1 million shares, which is already more than double the full-day average, according to FactSet. The public stock offering of 13.33 million shares, which represents about 29% of the shares outstanding, were priced at $1.50 a share, or 34% below Wednesday’s closing price of $2.27. That was just above the Dec. 14, 2017 record close of $2.24. ConforMIS also granted the underwriters of the offering options to buy up to an additional 2 million shares. All of the shares in the offering are being sold by the company. The stock has plummeted 74% over the past 12 months through Wednesday, while the S&P 500 has run up 23%.
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