- CSW Industrials (NASDAQ:CSWI) shares fell over 10% after the company priced a stock offering to raise $313.5M in gross proceeds.
- The sale comprises 1.1M shares of the company’s common stock, upsized from 1M shares previously. The shares are being offered to the public at $285 each.
- Additionally, the company has granted the underwriters a 30-day option to purchase up to an additional 165,000 shares at the public offering price less the underwriting discount.
- Net proceeds from the offering will be used to repay outstanding debt, with the remainder for general corporate purposes, including potential future acquisitions.
- The offering is expected to close on or about September 6, 2024, subject to market and other customary closing conditions.
