Data center firm TSS falls after $51 million stock offering

TSS

13/08/2025 15:05

Updates

** Data center services firm TSS' TSSI.O shares fall 3.8% to $17.89

** TSSI announces pricing of $51 million stock offering

** Co sold 3 million shares at $17 apiece, an 8.6% discount to stock's last close

** Lucid Capital Markets is the sole bookrunning manager for the offering

** Stock closed down 1.2% at $18.60 on Tuesday

** Proceeds will be used for general purposes, including repaying debt and capital expenditures

** TSSI has 23.7 million outstanding shares as of June 30, according to offering prospectus

** As of last close, TSSI shares up 56.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))