Orbital Energy drops after pricing stock offering at a discount

Orbital Infrastructure

13/01/2021 14:12

** Industrial gas sampling and measurement equipment maker's
shares  OEG.O  fall 4.5% to $4.24 premarket; stock set to snap
five straight sessions of gains
    ** Says offering 10 mln shares of common stock at purchase
price of $3.50/share, a discount of 21% to Tuesday's close
 urn:newsml:reuters.com:*:nPn8vlLhQa
    ** Says the offering is expected to close on or about Jan.
15  
    ** Up to Tuesday's close, stock had more than tripled in the
past 12 months

 (Reporting by Ankit Ajmera in Bengaluru)
 ((Ankit.Ajmera@thomsonreuters.com))