Tiger Brokers

BUZZ-Select Water Solutions slides after commencing $175 mln stock offering

Reuters
Yesterday
BUZZ-<a href="https://laohu8.com/S/WTTR">Select Water Solutions</a> slides after commencing $175 mln stock offering

** Select Water Solutions WTTR.N shares down 6.8% at $13.25 in extended trading after equity raise news

** Co, which provides sustainable water and chemical solutions to the energy industry, commences $175 mln stock offering

** It intends to use net offering proceeds for general purposes, including water infrastructure growth capital projects, potential acquisitions or debt repayment

** JP Morgan and BofA lead bookrunners

** Gainesville, Texas-based firm has ~121.3 mln shares outstanding for about $1.7 bln market cap

** Stock on Thurs finished down 1.3% at $14.22, trimming YTD gain to 35%. Shares have rallied nearly 80% over the past six months

** All 6 analysts are bullish on the stock and their median PT is $16.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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