DMC Global falls on equity offering
05/05/2021 11:57
** DMC Global Inc BOOM.O shares down 6.1% at $47 premarket
after diversified industrial firm prices follow-on
** Co sells 2.5 mln shares at $45, raises $112.5 mln for
general corp purposes, including potential acquisitions
urn:newsml:reuters.com:*:nGNX1gCJBm
** Offering prices at 10.1% discount to stock's Tues close
** KeyBanc sole bookrunner
** DMC operates two business segments: DynaEnergetics (maker
of perforation products for oil wells) and NobelClad (producer
of explosion-welded clad metal plates)
** Co has ~15.8 mln shares outstanding for roughly $800 mln
market cap, per Refinitiv data
** DMC's stock fell 12.2% on Tues, but is still up ~16% YTD
and has doubled over the past 12 months
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))