BUZZ-Energy services co Tetra Technologies tumbles on $100 mln share sale

Jpmorgan Chase
Tetra Technologies

Jpmorgan Chase

JPM

0.00

Tetra Technologies

TTI

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** Shares of energy services co Tetra Technologies TTI.N down 15.6% before the bell to $9.19, a one-month low, after $100 mln follow-on priced

** Spring, Texas-headquartered co late Tues sold ~10.8 mln shares at $9.25, a 15.1% discount to last sale

** It intends to use net offering proceeds for general purposes, including funding a portion of its Arkansas bromine project's construction costs

** JP Morgan lead bookrunner, along with Jefferies

** TTI has ~135.4 mln shares outstanding

** Through Tues, stock up 16% YTD

** 4 of 5 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $11.50, per LSEG data


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