- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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