LSI Industries dims after unveiling stock offering for acquisition

LSI Industries

26/02/2026 17:24

** Commercial lighting and retail display solutions provider LSI Industries' LYTS.O shares down 8.8% at $20.50 on Thurs after M&A-related equity raise plans

** LYTS shares on course for biggest one-day pct loss since Nov 6

** Cincinnati, Ohio-based LYTS late Weds announced $90 mln stock offering to fund proposed Royston Group acquisition

** LYTS said late Weds it would buy Atlanta, Georgia-area provider of retail fixtures for $325 mln from Industrial Opportunity Partners

** Royston generated ~$272 mln in trailing 12-mth rev through Sept, and adj EBITDA of about $38 mln, or 14% of sales, per the statement

** Oppenheimer and Craig-Hallum joint lead bookrunners for stock offering

** LYTS has ~31.1 mln shares outstanding for roughly $700 mln market cap as of last close

** With move on the session, stock up 12% YTD vs Nasdaq's .IXIC 2% decline

** All 4 analysts rate the stock "buy"; median PT $29, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))