BlackSky Technology plunges on pricing $40 mln stock offering

Blacksky Technology

25/09/2024 14:17

** BlackSky Technology's  BKSY.N  shares plunge 22%
premarket to record low $3.92 as communications equipment co
raises equity at steep discount
    ** Real-time geospatial intelligence provider announces
pricing 10 mln shares at $4 for $40 mln gross proceeds
    ** BKSY shares on Tues fell ~6% to $5.04, a record low close
    ** Co, which has 18.6 mln shares outstanding, plans to use
net proceeds to fund working capital, capex and other general
purposes, per the SEC prospectus filing
    ** Through Tues, shares had already shed 55% YTD
    ** Oppenheimer and Lake Street Capital Markets jt
bookrunners for stock offering

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