MDxHealth SA nearly doubled its share count in a single offering on August 13. The next trading session, shares closed about 75% higher.
The company sold about 44 million ordinary shares at $0.454 each, directly to institutional investors with no placement agent, according to a prospectus supplement filed with the SEC on August 13. Net proceeds were about $20 million before expenses. MDxHealth said it intends to use the funds for working capital, product development, and expanding its commercial operations.
Before the offering, about 51 million shares were outstanding. After it, the count stood at about 95 million — every existing holder now owns a smaller piece of the same company. The proceeds arrived as MDxHealth was working against two separate Nasdaq compliance deadlines.
The largest buyer was Bleichroeder LP, a New York investment manager run by Chairman and CEO Andrew Gundlach. Funds managed by Bleichroeder purchased about 24 million of the offered shares and, including earlier open-market purchases, now hold 33.2% of the company's outstanding stock, according to a Schedule 13D that Gundlach signed on August 14. The shares acquired in the offering are subject to a 90-day lock-up.
MDxHealth disclosed in the prospectus that on July 2, 2026, Nasdaq notified the company its closing bid price had been below $1.00 for 30 consecutive trading days, with a compliance deadline of December 28, 2026. A second notice, dated July 20, flagged that the company's market value of listed securities had fallen below Nasdaq's $35 million minimum, with a separate compliance window closing January 19, 2027.
MDxHealth closed at $0.8080 on August 14, up 74.89% from the prior close of $0.4620. Dollar volume for the session was about $297 million across 623,344 trades. Short volume was 123,731,925 shares, representing 54.76% of reported volume.
Even after the day's gain, the stock at $0.8080 still sat below the $1.00 minimum Nasdaq requires.