Seeking Alpha

PowerSecure to offer shares, stock drops

  • PowerSecure (POWR) falls 4% AH following a 6.7% regular session drubbing.
  • The company says it intends to sell $44M worth of shares in a public offering (220K shares to be offered by CEO Sidney Hinton).
  • The proceeds of the offering will go towards "working capital, capital expenditures, acquisitions" and, ironically, share repurchases. (PR)
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