InvestmentJun 4, 2026, 06:11 AM
TETRA Technologies Prices $94M Public Offering of Common Stock
AI Summary
TETRA Technologies, Inc. announced the pricing of an underwritten public offering of 10,810,811 shares of common stock at $9.25 per share. The company expects to receive approximately $94.0 million in net proceeds, which it intends to use for general corporate purposes, including funding a portion of the construction costs of its Arkansas bromine project. Additionally, the underwriters fully exercised their option to purchase an extra 1,621,621 shares, generating an additional $15.0 million in gross proceeds.
Key Highlights
- Priced public offering of 10,810,811 common shares at $9.25 per share.
- Expected net proceeds of approximately $94.0 million from the offering.
- Proceeds to fund general corporate purposes, including Arkansas bromine project construction.
- Underwriters granted a 30-day option to purchase up to 1,621,621 additional shares.
- Underwriters fully exercised option for additional shares on June 3, 2026.
- Option exercise expected to provide approximately $15.0 million in additional gross proceeds.
- J.P. Morgan Securities LLC served as lead book-running manager for the offering.
Price Impact
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