Frequency Electronics Prices Public Offering at $57.50 Per Share

Corporate Action
โดย GlobeNewswire·Read original
Summary · why it matters

Frequency Electronics has priced its underwritten public offering of 1,739,131 shares of common stock at $57.50 per share, expecting total gross proceeds of approximately $100 million. The company is offering 1,086,957 shares, while selling stockholders Edenbrook Value Fund, LP and Edenbrook Long Only Value Fund, LP, affiliates of board member Jonathan Brolin, are offering 652,174 shares. The offering is expected to close on July 30, 2026, and the underwriters have a 30-day option to purchase up to an additional 260,869 shares from the company. Morgan Stanley is acting as lead book-running manager and Craig-Hallum as book-running manager. Frequency Electronics intends to use its net proceeds for growth opportunities, including capital expenditures and working capital, and will not receive any proceeds from the selling stockholders' shares.

Impact on stocks 2

Defense & Geopolitical Fragmentation▼ · 1 stocks
Frequency Electronics Inc
FEIM
▼ NegativeCapitalrelevance

Company is selling shares at $57.50, diluting existing shareholders; stock price likely to drop.

Financials▲ · 1 stocks
Morgan Stanley
MS
▲ PositiveCapitalrelevance

Morgan Stanley is lead underwriter, earning fees from the offering.

Off-coverage companies 2

Edenbrook Long Only Value Fund, LPPrivate▲ Positive
Capitalrelevance

Selling stockholders (affiliates) are cashing out part of their holdings at $57.50 per share.

Edenbrook Value Fund, LPPrivate▲ Positive
Capitalrelevance

Selling stockholders (affiliates) are cashing out part of their holdings at $57.50 per share.

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