Byrna Technologies falls on $50 mln equity raise plans

Byrna Technologies

02/06/2021 13:33

** Byrna Technologies Inc  BRYN.O  shares down ~6% at $22.24
premarket as maker of non-lethal personal security products
looks to raise equity
    ** Late Tues, co announced ~$50 mln stock offering for
working capital and other general corp purposes  urn:newsml:reuters.com:*:nPnc1Y6QFa
    ** Raymond James lead bookrunner, joined by B. Riley as
bookrunner
    ** BRYN has ~20.56 mln shares outstanding for nearly $490
mln market cap, per Refinitiv data, and ~12.88 mln of free float
    ** Stock has gained ~85% since end-Mar and is up more than
five-fold over the past one year
    ** ~2.9k BRYN shares have traded before the bell vs their
10-DMA of ~91k. Stock's 50-DMA avg price is $19.70 - Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))