Select Water Solutions, Inc. (WTTR) shares declined 10.41 percent to $12.74, down $1.48 on Friday, after the company announced the pricing of an underwritten public offering of 13,725,491 shares of its Class A common stock at $12.75 per share.
The stock is currently trading at $12.74, compared with a previous close of $14.22. It opened at $12.89 and has traded between $12.67 and $13.19 during the session on the New York Stock Exchange. Trading volume has reached 5.34 million shares, significantly above its average volume of 0.83 million shares.
The company said it intends to use the net proceeds for general corporate purposes, including water infrastructure growth capital projects, potential acquisitions, or debt repayment under its sustainability-linked credit facility. The stock has traded in a 52-week range of $7.20 to $15.45.
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