Lantronix drops after $35.3 mln stock deal

Lantronix

18/11/2021 14:04

** Networking product maker Lantronix Inc  LTRX.O  down 17%
at $7.51, its lowest level in nearly a month, after co prices
its share offering
    ** California-based co prices offering of 4.7 mln shares at
$7.50/shr, a 17% discount to its last close  urn:newsml:reuters.com:*:nASA02TFS
    ** LTRX has 29.74 mln outstanding shares, according to
Refinitiv data
    ** Co plans to use proceeds of ~$35.3 mln to repay debt,
among other things
    ** Shares have doubled in value this year

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))