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GEORGETOWN, Texas - TSS, Inc. (NASDAQ:TSSI), a data center services company specializing in AI and high-performance computing infrastructure, announced Thursday it has closed its previously announced public offering, raising approximately $58.7 million in gross proceeds. The announcement comes as the company’s stock has shown remarkable performance, with a 549% return over the past year according to InvestingPro data.
The company sold 3,450,000 shares of common stock at $17.00 per share, which included 450,000 shares from the underwriter’s exercise of its overallotment option. Lucid Capital Markets served as the sole book-running manager for the offering.
TSS plans to use the net proceeds for general corporate purposes, including working capital and growth capital. The offering was made pursuant to a shelf registration statement filed with the Securities and Exchange Commission in January 2025 and declared effective in July 2025.
"This offering provides TSS the flexibility to continue to invest in our infrastructure and processes," said CEO Darryll Dewan in the press release statement. He added that the company is exploring opportunities to broaden its capabilities and go-to-market approaches. The company’s financial metrics support this expansion strategy, with InvestingPro data showing impressive revenue growth of 329% in the last twelve months, though operating with a moderate debt level and current ratio of 0.81.
TSS specializes in integrating and deploying high-performance computing infrastructure and software for data centers. The company works with leading data center technology providers to manage and deploy technology solutions.
The public offering closed on August 14, 2025, with all shares in the offering sold by the company. With a market capitalization of $261.64 million and a P/E ratio of 54.82, investors seeking deeper insights into TSS’s valuation and growth prospects can access comprehensive analysis through InvestingPro’s detailed research reports, which offer expert analysis on over 1,400 US stocks.
In other recent news, TSS, Inc. reported its second-quarter 2025 earnings, highlighting a substantial revenue increase. The company achieved a total revenue of $44 million, representing a remarkable 262% year-over-year growth. However, earnings per share remained flat at $0.06 compared to the previous year, with net income rising by 6% to $1.5 million. Additionally, TSS announced the pricing of its underwritten public offering, setting the price at $17 per share for 3 million shares. Lucid Capital Markets is managing the offering, with an option to purchase an additional 450,000 shares within 30 days. The offering is expected to close around August 14, 2025. These developments come amid the company’s focus on AI and high-performance computing infrastructure.
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