Stock Alert: Repro Med Loses 10%

(RTTNews) - Shares of portable medical devices maker, primarily for the ambulatory infusion market, Repro Med Systems, Inc. (KRMD) are falling more than 10% Friday morning at $9.38. The stock has traded in the range of $2.24- $12.84 in the past 52 weeks.

Repro Med Systems, Inc. d/b/a KORU Medical Systems today priced its previously announced public offering of 3.125 million shares at $8 per share.

The company plans to use the net proceeds from the offering of about $25 million for general corporate purposes and working capital.

Thursday, Repro Med said it is set to join the broad-market Russell 3000 Index, the Russell 2000 Index, and Russell Microcap Index at the conclusion of the 2020 Russell indexes annual reconstitution, effective June 29, 2020.