Shares of Osteopore (ASX:OSX) have plunged 42.3% to A$0.3.

The significant slide puts the company on track for its worst performing day if the decline holds.

The medical technology firm has announced an entitlement offer with a goal of raising A$3 million in order to reinforce its financial standing.

The offer price of A$0.029 per placement portrays a whopping 94.4% discount compared to the company’s closing figure on March 12.

The stock exchange witnessed an unusually high trading activity with about 97,000 shares trading hands, a stark contrast to the average volume of about 2,400 over the past 30 days.

Year-to-date, the stock has fallen by 21.2%, as per its last closure.

Osteopore is a medical tech company specializing in biodegradable polymer medical devices for bone regeneration.