LSI Industries Raises $90M in 4.6M-Share Offering to Fund Acquisition
LSI Industries has priced a public offering of 4.6 million shares at $19.75, raising gross proceeds of roughly $90 million and granting underwriters a 30-day option for 690,000 additional shares. Proceeds will partially fund the Royston Group acquisition, repay senior secured credit facility borrowings and support general corporate purposes.
1. Offering Details
LSI Industries is offering 4.6 million common shares at $19.75 per share, generating approximately $90 million in gross proceeds. The company granted underwriters a 30-day option to purchase up to 690,000 additional shares at the same price.
2. Use of Proceeds
Net proceeds will be allocated to fund the Royston Group acquisition, repay borrowings under a senior secured credit facility, and support general working capital and corporate purposes.
3. Closing Timeline
The offering is expected to close around March 2, 2026, subject to customary closing conditions.
4. Management and Registration
Oppenheimer & Co. and Craig-Hallum are joint lead book-running managers, with H.C. Wainwright & Co. and Texas Capital Securities as co-managers. Shares are registered under a shelf registration statement on Form S-3 that is effective.