DCO - Ducommun plans for offering of 2M shares stock down 11%

2023-05-15 16:41:40 ET

• Ducommun ( NYSE: DCO ) has launched an underwritten public offering of 2 million shares, the company said on Monday.

• Shares -11.1% at $43 after hours.

• Ducommun also expects to grant the underwriters a 30-day option to purchase up to an additional 300,000 shares.

• The offer price per share and total amount of the offering were not disclosed.

• Ducommun intends to use the net proceeds from the offering to repay indebtedness under its revolving credit facility that was used to finance its acquisition of BLR Aerospace L.L.C.

• Goldman Sachs, Citigroup, RBC Capital Markets, and B. Riley Securities are acting as joint book-running managers for the offering.

• Press Release .

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