BUZZ-Mama’s Creations falls from record on $100 mln equity raise
Mama's Creations, Inc. MAMA | 0.00 |
** Shares of deli prepared food maker Mama’s Creations MAMA.O down 8.2% before the bell to $18.96 after $100 mln equity raise
** Stock on track to snap 13-session winning streak
** MAMA late Mon announced pricing offering of ~5.56 mln shares at $18, a 12.8% discount to their record-high close of $20.65
** Co intends to use net offering proceeds for working capital and general purposes, including funding potential acquisitions of businesses or assets
** William Blair and D.A. Davidson lead bookrunners
** East Rutherford, New Jersey-based MAMA has ~40.9 mln shares outstanding
** At Mon close, MAMA stock up 50% this month, putting it up 53% YTD
** All 6 analysts rate the stock "buy"; median PT $21, per LSEG