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The Milwaukee health information technology company announced plans to sell up to 9 million shares for $3 each, sending its stock price plummeting.

Its the second acquisition in as many months. In June, Merge announced its plans to acquire the North Carolina clinical trials software company etrials Worldwide, which completed in mid-July. Less than two weeks ago Merge reported second-quarter results in which it eked out a net income of $400,000 — an improvement over the $18.2 million loss over the same period last year. The company called the results — in particular its operating income of $4.1 million — the best results in three years.