Atlas Energy slips after acqusition-related equity offering

Atlas Energy Solutions

31/01/2025 13:52

**  Shares of Atlas Energy Solutions  AESI.N  down 3.1%
premarket at $24.25 after overnight follow-on offering priced
  
    ** Austin, Texas-based sand/proppant supplier late Thurs 
11.5 mln shares at $23 for total raise of $264.5 mln
  
    ** Offering size increased form 10 mln shares, priced at
8.1% discount to last sale
  
    ** Co to use net offering proceeds to fund  of distributed
power provider , which was announced on Mon
  
    ** AESI's executive chairman Ben "Bud" Brigham indicated to
buy up to $5 mln of offering shares, per the 
  
    ** Goldman Sachs and Piper Sandler are lead bookrunners
  
    ** AESI has ~110.2 mln shares outstanding for ~$2.8 bln
market cap
    ** Through Thurs close, shares up ~13% YTD and up ~44% over
the past 12 months. Stock touched intraday record high of $26.86
on Tues
     

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))