Down after pricing $10 mln direct offering

Orbital Infrastructure

31/12/2020 14:10

** Shares of energy services platform company  OEG.O  down
10.63% at $2.10 premarket 
    ** Co enters into deal with institutional investors for sale
of 5.5 mln shares of its common stock at $1.80 per share;
representing a 23.4% discount to stock's last close  urn:newsml:reuters.com:*:nPn1Fmhvma
    ** Offering is expected to close on or about Jan. 5
    ** Alliance Global Partners is acting as sole placement
agent for the offering
    ** Up to Wednesday's close, stock has doubled YTD

 (Reporting by Rithika Krishna)
 ((Rithika.Krishna@thomsonreuters.com;))