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Sun Hydraulics sinks on capital raise

Published 01/30/2018, 10:56 AM
© Reuters.  Sun Hydraulics sinks on capital raise
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  • Sun Hydraulics (NASDAQ:SNHY) is down over 10% in early trade after commencing an underwritten public offering of 4M shares of common stock.
  • The company also intends to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock.
  • Sun Hydraulics intends to use all of the net proceeds of the offering for the repayment of debt under its credit facility, to fund acquisition activity and for working capital and general corporate purposes.
  • Now read: Pentair Inc. 2017 Q4 - Results - Earnings Call Slides


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