MAXN - Maxeon Solar down 4% after $125M public offering of shares

Maxeon Solar Technologies (MAXN) intends to sell $125M of ordinary shares through an underwritten public offering.Underwriters to be granted an option to purchase up to an additional $18.75M of ordinary shares.Additionally, Maxeon has agreed to sell in a private placement, and at a sale price equal to the price to the public in the Offering, up to 1.9M and no fewer than 1.5M ordinary shares, to Tianjin Zhonghuan Semiconductor.Company intends to use a portion of the net proceeds from the Offering and the TZS Private Placement for general corporate purposes.Shares -4.7% after-hours.

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Maxeon Solar down 4% after $125M public offering of shares