Shares of UpHealth Inc. /zigman2/quotes/213039612/composite UPH -1.34% plunged 34.5% toward a record low in active trading to pace all of the premarket decliners on Tuesday, after the Florida-based digital health company announced the pricing of its upsized equity offering at a deep discount. Trading volume swelled to 4.3 million shares ahead of the open, already more than 10 times the full-day average. The company said late Monday it raised $40.25 million as its 23.0 million-share common stock offering priced at $1.75, or 33.0% below Monday's record-low closing price of $2.61. The number of shares sold represented 19.6% of the shares outstanding as of Aug. 12. Last week, the company said it was offering 12.59 million shares. The stock had tumbled 34.3% amid a seven-day losing streak through Monday. It has plummeted 56.4% over the past three months through Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.03% has slipped 1.2%.