2023-05-15 16:41:40 ET
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Ducommun ( NYSE: DCO ) has launched an underwritten public offering of 2 million shares, the company said on Monday.
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Shares -11.1% at $43 after hours.
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Ducommun also expects to grant the underwriters a 30-day option to purchase up to an additional 300,000 shares.
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The offer price per share and total amount of the offering were not disclosed.
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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.
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Goldman Sachs, Citigroup, RBC Capital Markets, and B. Riley Securities are acting as joint book-running managers for the offering.
- Press Release .
For further details see:
Ducommun plans for offering of 2M shares, stock down 11%