BlackSky Technology tumbles on stock offering plans

Blacksky Technology

24/09/2024 21:45

** BlackSky Technology's  BKSY.N  shares tumble 11.7% to
$4.45 in extended trading as real-time geospatial intelligence
solutions provider plans to raise equity
    ** BKSY fell 6.3% to record low close of $5.04 in Tuesday's
regular session
    ** Co announces stock offering to fund working capital,
capex and other general purposes; deal size not disclosed
    ** With 18.6 mln shares outstanding, co has ~$94 mln market
cap
    ** Shares have already shed 55% in 2024
    ** 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))