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Investing.com -- TSS, Inc. (NASDAQ:TSSI) stock dropped 3% after the data center services company announced the pricing of its underwritten public offering of 3 million shares at $17.00 per share.
The offering, which is expected to close around August 14, 2025, includes an option for the underwriter to purchase up to an additional 450,000 shares at the same price within 30 days. Lucid Capital Markets is serving as the sole book-running manager for the transaction.
TSS, which provides AI and high-performance computing infrastructure and software integration services, plans to use the net proceeds from the offering for general corporate purposes, including working capital and growth capital initiatives.
The company’s shares declined as investors reacted to the potential dilution from the additional shares being issued. Public offerings often put downward pressure on stock prices as they increase the total number of outstanding shares, thereby reducing earnings per share.
The pricing announcement follows TSS’s previous disclosure of its intention to conduct a public offering, with the final terms now established at $17.00 per share before underwriting discounts, commissions, and offering expenses.
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