American Electric Technologies shares jump after Stabilis merger

Stabilis Solutions

18/12/2018 11:10

** Shares of American Electric Technologies  AETI.O  rise
39.3 pct premarket after co enters share exchange agreement with
privately-held Stabilis Energy LLC
    ** Stock is the fourth-most traded stock in early premarket
trading and the biggest gainer among all U.S. exchanges as of
6:00 am ET
    ** Under the deal, Stabilis and its units will become
wholly-owned subsidiaries of AETI  urn:newsml:reuters.com:*:nGNX4ps7Tm
    ** AETI shareholders will own 11 pct of combined co, while
former owners of Stabilis will hold the remaining 89 pct
    ** AETI, which supplies power delivery products and services
to the energy industry, has seen its share plunge ~44 pct this
year amid worries about its ability to continue as a going
concern
    ** AETI last reported Q2 revenue of $2.1 mln and loss from
cont ops of 1 cent  urn:newsml:reuters.com:*:nASA00R3D
    ** Shares got a bump in December after its Chinese JV got
new purchase order  urn:newsml:reuters.com:*:nL4N1Y83YY

 (Reporting by Sruthi Shankar in Bengaluru)
 ((sruthi.shankar.reuters.com@reuters.net))