Redwire Sinks 10% After $200 Million Share Offering; T-Mobile Drops 4% as SoftBank Offloads $4.8B Stake

Tiger Newspress
06/17

Aerospace and defense technology company Redwire announced Monday it has commenced an underwritten registered public offering of $200 million of its common stock.

The company plans to grant underwriters a 30-day option to purchase additional shares equal to 15% of the common stock sold in the offering.

Redwire shares tumbled 9.6% in premarket trading on Tuesday.

Japan's SoftBank raised $4.8 billion from a sale of 21.5 million T-Mobile shares at $224 each, according to a term sheet reviewed by Reuters.

The shares were offered in a price range of $224 to $228 each, the term sheet said. The final price was around a 3% discount to T-Mobile's closing price on Monday of $230.99.

T-Mobile shares dropped 3.9% in premarket trading on Tuesday.

MakeMyTrip is seeking to raise more than $2 billion in concurrent sales of shares and convertible bonds, as the US-listed Indian travel firm aims to buy back a stake held by Trip.com.

The Gurugram, India-based company is offering 14 million new shares, and is also seeking to raise $1.25 billion from the sale of zero-coupon convertible bonds, according to a statement Monday.

At MakeMyTrip’s closing price on Monday of $100.88 per share, the shares would be valued at $1.4 billion, according to Bloomberg calculations.

MakeMyTrip shares fell 6.1% in premarket trading on Tuesday.

Lennar stock gained 2.3% in premarket trading on Tuesday after-hours trading after the homebuilder turned in mixed fiscal Q2 results, with earnings missing consensus and revenue topping the average analyst estimate. The outlook for Q3 was also uneven.

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