Tat Technologies falls on $108 mln stock sale

Stifel Financial

30/05/2025 12:00

** U.S.-listed shares of Israeli defense contractor Tat Technologies TATT.O down 3.6% to $26.48 before the bell after follow-on priced

    ** Co late Thurs announced 4
    .15 mln share offering at $26, including ~2
    .5 mln shares sold by existing shareholders, for total raise of $107.9 mln

    ** Offering price represents 5.4% discount to stock's last sale

    ** TATT shares on Thurs fell ~11% after co launched the offering late Weds

    ** Selling shareholders are FIMI (First Israel Mezzanine Investors) Opportunity V and FIMI Israel Opportunity Five comprise the selling shareholders, per the SEC prospectus filing

    ** Tat plans to use expected net offering proceeds of ~$40 mln for working capital, capex

        ** Co

    offers heat transfer solutions, and maintenance, repair, and overhaul for components like APUs (Auxiliary Power Units) and landing gear

      ** It has ~10.9 mln shares outstanding for $300 mln market cap, and ~8 mln shares of public float, per LSEG data

      ** Stifel and Truist leading the stock offering

      ** Through Thurs close, TATT shares up 7% YTD and up ~80% over the past 12 months.

      Stock hit intraday record high of $36.49 on May 9

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

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