TETRA Technologies priced an underwritten public offering of 10,810,811 shares of common stock at $9.25 a share, raising gross proceeds of about $100.0 million before expenses. The company also gave underwriters a 30-day option to buy up to 1,621,621 additional shares, which would add another $15.0 million at the same price if fully exercised.
The deal is expected to close on June 4, 2026. J.P. Morgan is leading the book-running, with Jefferies also serving as book-running manager and Berenberg, Johnson Rice & Company, Northland Capital Markets and CJS Securities as co-managers.
TETRA said it plans to use the net proceeds for general corporate purposes, including funding part of the construction costs of its Arkansas bromine project. The company did not disclose any change in operating results or other financial metrics in this release; the key change was the addition of new equity capital through the offering. Following these announcements, the company's shares moved -1.85%, and are now trading at a price of $9.56. For more information, read the company's full 8-K submission here.
