Data center firm TSS slides after launching stock offering

TSS

13/08/2025 12:29

** Data center services firm TSS' TSSI.O shares slide 9.1% to $16.91 premarket

** TSSI late Tuesday commenced public offering of shares; size not disclosed

** 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))