Why Ducommun Shares Are Plunging Today

by Shivani Kumaresan, Benzinga Staff Writer

May 16, 2023 8:05 AM | 1 min read |

Ducommun Inc DCO has priced its public offering of 2 million shares at $40 per share.
The offer price represents a 17% discount to the company’s closing price on May 15, 2023.
The company expects net proceeds from the offering of $74.4 million.
Ducommun has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares.
The company intends to use the net proceeds to repay indebtedness under its revolving credit facility that was used to finance its acquisition of BLR Aerospace L.L.C.
The closing of the offering is expected to occur on May 18, 2023.
Price Action: DCO shares are trading lower by 14.3% at $41.50 in premarket on the last check Tuesday.

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