Treace Medical Concepts Inc TMCI Shares are trading down 6.52% to $21.50 during Tuesday’s after-hours session. The company announced a proposed offering of $100 million of common stock.

What happened: Treace Medical Concepts said that the proposed offering is subject to market and other conditions and there can be no assurance as to whether or when the proposed offering can be completed, or as to the actual scope or terms of the proposed offering.

Treace Medical Concepts said the company intends to grant the underwriters a 30-day option to purchase up to $15.0 million in additional common shares.

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Treace meanwhile intended to use the net proceeds from the proposed offering for general corporate purposes, including research and development, sales and marketing activities, general and administrative affairs and capital expenditures.

According to data from Gasoline ProTMCI has a 52-week high of $26.50 and a 52-week low of $12.48.

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