IPG Photonics (IPGP) -2.9% AH after announcing a 3M share stock offering; 2.8M shares will be...

|About: IPG Photonics Corporation (IPGP)|By:, SA News Editor

IPG Photonics (IPGP) -2.9% AH after announcing a 3M share stock offering; 2.8M shares will be issued by the company (good for proceeds of $160M based on today's close), and another 200K will be sold by CEO Valentin Gapontsev. The company only says it will use the proceeds from new shares for general corporate purposes. SA's Jae Jun offered a positive take on IPG earlier today.