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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