Ichor Prices Public Offering Of About 3.33 Mln Shares At $37.50/shr; Stock Down

(RTTNews) - Ichor Holdings Ltd. (ICHR) said that it has priced an underwritten public offering of about 3.33 million of its ordinary shares at $37.50 per share.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 500,000 of its ordinary shares at the public offering price, less underwriting commissions.

The company noted that it plans to use the net proceeds it receives from the offering to repay outstanding indebtedness and for general corporate purposes, which may include, among other things, capital expenditures, potential acquisitions, growth opportunities, and strategic transactions.

The offering is expected to close on March 18, 2024.

ICHR closed Wednesday's regular trading at $37.74 down $4.94 or 11.57%. In the after-hours trading at the stock further dropped $0.13 or 0.34%.