Frequency Electronics shares fell about 9.7% in after-hours trading on Tuesday after the company priced its previously announced underwritten public offering of 1.74 million common shares at $57.50 per share. The offering includes 1.09 million shares issued by the company and 652,174 shares sold by existing stockholders Edenbrook Value Fund LP and Edenbrook Long Only Value Fund LP. Underwriters have a 30-day option to purchase up to an additional 15% of the shares. Net proceeds will be used to fund growth opportunities, including capital expenditures, working capital, and other general corporate purposes. The transaction is expected to close on July 30, 2026.
Frequency Electronics IncCompany prices $100M stock offering, diluting existing shareholders.