Frequency Electronics drops on pricing $100 mln stock offering

Frequency Electronics

29/07/2026 11:42

** Precision timing tech firm Frequency Electronics FEIM.O shares down 9.4% to $60.20 before the bell Weds after $100 mln equity offering priced
** FEIM late Tues announced ~1.7 mln shares at $57.50, a 13.5% discount to last sale
** Co sold ~1.1 mln shares; Edenbrook Capital, affiliated with board member Jonathan Brolin, offloaded the balance
** FEIM, based in Uniondale area of New York, intends to use net offering proceeds it receives to fund growth, including capex, working capital, other general purposes
** Prior to the sale, activist investment firm Edenbrook owned ~1.9 mln of FEIM's ~9.9 mln shares outstanding, per the prospectus
** Morgan Stanley lead bookrunner for offering, joined by Craig-Hallum as bookrunner
** At Tues close, FEIM shares up ~22% YTD

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