Select Water Solutions slides on $175 mln stock sale

Select Water Solutions

20/02/2026 11:31

** Select Water Solutions WTTR.N shares down 7.4% before the bell to $13.17 after pricing $175 mln equity offering

** WTTR, which provides sustainable water and chemical solutions to the energy industry, late Thurs sold ~13.7 mln shares at $12.75, a 10.3% discount to stock's last sale

** Co to use net offering proceeds for general purposes, including water infrastructure growth capital projects, potential acquisitions or debt repayment

** JP Morgan and BofA lead bookrunners

** Gainesville, Texas-based firm has ~121.3 mln shares outstanding

** WTTR late Tues posted Q4 rev of $346.5 mln and adj EBITDA of $64.2 mln, both topping LSEG estimates of $320 mln and $60.9 mln, respectively. Its stock on Weds rose nearly 9%

** Through Thurs close, stock up 35% YTD and has rallied nearly 80% over the past six months

** All 6 analysts are bullish; median PT $16.50, per LSEG data

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

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