Optical tech firm Viavi slides on $500 mln share sale
19/05/2026 21:41
** Network test measurement and optical technologies firm Viavi Solutions VIAV.O shares fall 5.2% in extended trading to $46.73 after planned equity raise news ** Chandler, Arizona-based VIAV kicks off $500 mln share offering ** Co intends to use net offering proceeds to repay its $450 mln term loan, any remainder for working capital or other general corporate purposes ** Stifel and Needham joint bookrunners, along with UBS ** VIAV stock finished down 0.9% at $49.28 on Tues, but up 177% YTD ** With ~233.9 mln shares outstanding, co has $11.5 bln market cap ** Avg rating of 9 analysts is "buy"; median PT of $65 up from $27.50 a month ago, according to LSEG data (Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))