Why Byrna Technologies Stock Is Trading Higher Today

Byrna Technologies Inc BYRN shares are trading significantly higher Friday after the company priced an upsized offering. 

Byrna Technologies announced the pricing of an upsized underwritten public offering of 2.5 million shares at a price of $2 per share. The offering will result in total gross proceeds of approximately $52.5 million.

The offering was upsized from the previously announced offering of 2.25 million shares. The non-lethal personal security solutions company intends to use the net proceeds from the offering for working capital and other general corporate purposes.

Price Action: Byrna Technologies has traded as high as $27.27 and as low as $1.18 over a 52-week period. It is up 75.17% year-to-date. 

At last check Friday, the stock was up 13% at $25.45.