Secondary Alert: China Medical Tech (CMED)

China Medical Technologies Inc. (CMED) did finally price its expected secondary offering of 5M shares at $25.50, well under its $26.55 close yesterday. The size of this offering was bumped from 4M shares up to the 5M shares, although the pricing discount to the close is steeper than most. This is the one that Cramer just touted Tuesday night on "Mad Money" as a secondary to try to get in on for the allocation to steak some free money. China Medical Technologies, Inc., principally through its wholly owned subsidiary, Beijing Yuande Bio-Medical Engineering Co., Ltd., engages in the development, manufacture, and marketing of products for the treatment of solid cancers and benign tumors principally in the People’s Republic of China. Its primary product is a high intensity focused ultrasound therapy system that is used for the noninvasive treatment of solid tumors in liver, breast, and kidney, as well as in the pelvic cavity or on bones, and tumors in the four limbs or superficial tissues.