Capstone Green Energy plunges on equity offering launch

Capstone Green Energy

18/08/2022 21:14

** Shares of Capstone Green Energy  CGRN.O  drop >25% in
extended trading as co seeks equity
    ** CGRN launches offering of stock and warrants with Lake
Street Capital as sole bookrunner; deal size not disclosed
 urn:newsml:reuters.com:*:nBw24BGJra
    ** Co says plans to use net proceeds for working capital,
grow its Energy as a Service long-term rental fleet
    ** Shares on Thurs closed up 6.5% at $3.94 for ~$60 bln
market value, per Refinitiv data
    ** Stock has risen 121% this month, and is up ~19% YTD

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