PDF Solutions drops on upsized $201 mln stock offering

PDF Solutions

14/05/2026 11:37

** Semiconductor data solutions provider PDF Solutions' PDFS.O shares down 10.8% premarket to $46.01 after $201 mln follow-on priced

** Santa Clara, California-based firm early Thurs announced ~4.6 mln shares at $44, with co selling ~1.3 mln shares

** Offering size increased from ~3.8 mln shares and priced at 14.7% discount to stock's last close

** Existing stockholder Advantest America offloads ~3.3 mln shares and fully divests its 8.29% stake, per the prospectus

** PDFS intends to use net offering proceeds it receives for general corp purposes, including debt repayment

** Morgan Stanley sole active bookrunner

** Through Weds, PDFS shares up 81% YTD after hitting record intraday high of $56.46 on Mon

** All 4 analysts covering the stock rate it "buy"; median PT $53, per LSEG

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

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