Molecular Data Inc (NASDAQ:MKD) is best known for operating a tech powered platform that is primarily meant for the chemical industry in China. Yesterday, the stock emerged as one of the notable gainers in the market and ended the day with gains of as much as 5%.
The rally in the stock may have been triggered by a key announcement from the company back on Wednesday. At the time the company announced the details with regards to a registered direct offering. In this offering, Molecular Data is going to offer one unit of its American Depository Share and one warrant that entitles the holder to pick up a solitary American Depository Share.
However, that is not all. Molecular Data is also going to offer pre-funded units as part of this offering. Each unit is going to be made up of a solitary pre-funded warrant by way of which the holder could pick up one American Depository Share and a warrant that entitles him to pick up a American Depository Share in Molecular Data. The price of the unit was set at $0.38 each by the company. It now remains to be seen if the stock can add to its gains today.
